China outstanding TSF surges 10.4 pct to 205.08 trillion yuan at Jan-end

China's outstanding total social financing (TSF) was 205.08 trillion yuan ($30.28 trillion) at the end of January, up 10.4 percent from a year earlier, the central bank said on Friday.

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. The People's Bank of China has revised the way it calculates TSF by adding financial institutions' asset-backed securities and loan write-offs. ($1 = 6.7736 Chinese yuan renminbi)