China Total Social Financing

The index reflects fundraising by Total Social Financing indicator in current prices without seasonal adjustment. Total Social Financing is used in China to assess the volume of financing in national and foreign currencies of the corporate sector and households. It includes loans from banks, placement of domestic corporate bonds, loans from non-bank organizations and others. Total Social Financing is an indicator that determines how much money China's real economy has received for each reporting period. China uses TSF because corporate finance is very popular in China's so-called shadow banking sector, and counting only traditional bank loans will not give a real picture.