China’s outstanding total social financing was 179.93 trillion yuan (approx. USD$28.63 trillion) at the end of March, according to the latest official data from the Chinese central bank.
The figure marks an increase of 10.5% compared to the same period last year.
Total social financing (“社会融资规模” or “社会融资总量,” also referred to in English as “aggregate financing to the real economy”) refers to the aggregate volume of funds provided by China’s domestic financial system to the private sector of the real economy within a given timeframe.
The Chinese government employs it as a liquidity measurement tool to abet the formation of monetary policy.
