Date
22 August 2017

Social financing aggregate hits record 17.3 trn yuan, govt says

China’s total social financing aggregate, a broad measure of liquidity in the economy, hit a record 17.29 trillion yuan (US$2.86 trillion) in 2013, up 1.53 trillion yuan from the previous year, Sheng Songcheng {盛松城}, head of statistics of the People’s Bank of China, said in a webcast Wednesday. Renminbi loans increased by 8.89 trillion yuan during the year, 687.9 billion yuan more than the 2012 growth. The proportion of yuan lending in the total social financing aggregate fell to 51.4 percent, a historical low, from 52 percent in 2012, Sheng was quoted as saying. During the period, financial institutions reported off-balance sheet business worth a combined 5.17 trillion yuan, 29.9 percent of all social financing.

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