BEIJING (Reuters) – China’s outstanding total social financing (TSF) was 291.36 trillion yuan ($44.75 trillion) at the end of February, up 13.3% from a year earlier, the central bank said on Wednesday.
TSF includes off-balance-sheet forms of financing that exist outside the conventional bank lending system, such as initial public offerings, loans from trust companies and bond sales.
In February, TSF fell to 1.71 trillion yuan from 5.17 trillion yuan in January. Analysts polled by Reuters had expected February TSF of 950 billion yuan.
(Reporting by Judy Hua and Kevin Yao; editing by John Stonestreet)