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BEIJING - China's outstanding total social financing (TSF), a broad measure of credit and liquidity in the economy, rose 10.7% to 302.49 trillion yuan ($46.6 trillion) at the end of July from a year earlier, the central bank said on Wednesday.
In July, TSF fell to 1.06 trillion yuan from 3.67 trillion yuan in June. Analysts polled by Reuters had expected July TSF to fall to 1.70 trillion yuan.
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.
($1 = 6.4855 Chinese yuan renminbi) REUTERS