The People’s Bank of China (PBOC) has announced that as of the end of April this year total social financing (TSF) in China amounted to RMB 209.68 trillion, up 10.4 percent year on year. In particular, loans extended to the real economy totaled RMB 141.85 trillion, rising by 13.5 percent year on year.
TSF consists of off-balance sheet modes of finance which exist separately from the conventional bank lending system, such as initial public offerings, loans from trust companies and bond sales
Zhang Wenhong, deputy director of the investigation and statistics division of the PBOC, stated that, generally speaking, the current financial credit support for Chinese enterprises is relatively large, which indicates that China’s economy will show good development in the future.