China outstanding total social financing up 10.7% y/y at end-July

China's outstanding total social financing (TSF) was 214.13 trillion yuan ($30.31 trillion) at the end of July, up 10.7% from a year earlier, the central bank said on Monday.

TSF includes off-balance sheet forms of financing that exist outside the conventional bank lending system, such as initial public offerings, loans from trust companies and bond sales.

In July, TSF fell to 1.01 trillion yuan from 2.26 trillion yuan in June. Analysts polled by Reuters had expected July TSF of 1.5 trillion yuan.

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