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China's social financing scale hits RMB 142.50 trln in Feb

Mar 17, 2016 (China Knowledge) – China's social financing scale stood at RMB 142.50 trillion as of the end of Feb, up 12.7% from the previous year, according to the statistics released by the People’s Bank of China (PBoC).

The statistics shows that RMB loans to the real economy expanded to RMB 95.10 trillion, up 14.3% from the previous year, while foreign currency loans went down 19.3% year on year to RMB 2.81 trillion.

Meanwhile, entrust loans and trust loans increased to RMB 11.39 trillion and RMB 5.54 trillion, up 19.2% and 3.4% from the year before, respectively.

Bank bill acceptance went down to RMB 5.62 trillion, 20.3% less than previous year. Net proceeds from corporate companies were at RMB 15.24 trillion, up 26.8% from the year before.

Aggregate finance, a broader measure of liquidity in China's economy, including traditional loans, direct financing and a wider variety of alternative loan products, was sufficient to support economic growth.

China's central bank began to use a social financing aggregate since 2011 to study the banks' ballooning off-balance-sheet lending to better measure overall money supply to the real economy, China Knowledge reported earlier.

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