Total social financing
China's broadest measure of credit to the real economy, including bank loans, bonds and shadow finance, published monthly by the central bank.
Aggregate financing to the real economy, usually called total social financing, counts every form of funding reaching Chinese households and firms: bank loans, corporate and government bonds, equity issuance, trust loans and bankers' acceptances. Its monthly flow relative to GDP, the credit impulse, is a widely used leading indicator for Chinese activity. It is not collected on worldstat.us because the People's Bank of China publishes it only as monthly web tables; China's credit row shows the BIS's quarterly total credit to the private non-financial sector instead, which counts bank and non-bank lending and bonds from all lenders.
On this site
- Credit to the private sector, y/y China +5.2 % Context
Related terms
BIS · GDP · coincident · credit impulse