x

China Jan total social financing hits record 4.64 trln yuan

China’s total social financing (TSF), a broad measure of credit and liquidity in the economy, hit a record 4.64 trillion yuan (685.01 billion dollars) in January, far more than expectated, data from the central bank showed on Friday.

Analysts polled by Reuters had predicted the gauge would rise to 3.25 trillion yuan from 1.59 trillion yuan in December.

The rise in financing levels should allay some of the anxiety about weakening credit growth as China’s economy slows.

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.

The People’s Bank of China has revised the way it calculates TSF by adding financial institutions’ asset-backed securities and loan write-offs.

It has also added local government special bonds issuance into the TSF calculation from September.

TSF is used as a barometer of fundraising trends and can provide some clues on activity in China’s vast and unregulated shadow banking sector.

Chinese authorities have been trying to clamp down on riskier forms of lending as part of a broader campaign to reduce systemic financial risks, but the moves have triggered a marked slowdown in investment that helped drag down economic growth last year to a 28-year low. (1 = 6.7736 dollar Chinese yuan renminbi).

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Televangelist Jimmy Swaggart Dies at 90 Following Cardiac Arrest

Renowned Pentecostal preacher and televangelist Jimmy Swaggart has passed...

[BREAKING] 2027 Coalition: Atiku, Secondus, PDP Heavyweights Hold Strategic Meeting in Abuja

Former Vice President Atiku Abubakar, ex-Senate President David Mark,...

Julius Berger Reaffirms Resilience and Long-Term Value at 2025 Investors Forum

Julius Berger Nigeria Plc, the nation’s leading engineering construction...

FG to Unveil National Intellectual Property Policy in July to Boost Creative Exports

The Federal Government will launch Nigeria’s National Intellectual Property...

How Safe Are Public Swimming Pools?

From tropical parasites to stubborn bacteria, swimmers often share...

Verydarkman offers mouthwatering reward amid justice for Mohbad

Outspoken social media critic, VeryDarkMan, has announced a substantial...

Troops Eliminate Terror Kingpin Yellow Danbokolo in Zamfara

The Defence Headquarters (DHQ) has confirmed that troops of...

Larry Ellison Adds $8.8 Billion to Net Worth in a Day as Oracle Shares Hit Record High

Larry Ellison, co-founder, chairman, and chief technology officer of...
spot_img

Related Articles

Popular Categories

spot_imgspot_img