Arab Today, arab today china\s social financing falls 126 trillion yuan in jansept period
Last Updated : GMT 16:22:08
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China\'s social financing falls 1.26 trillion yuan in Jan.-Sept. period

Arab Today, arab today

Arab Today, arab today China\'s social financing falls 1.26 trillion yuan in Jan.-Sept. period

Beijing - Xinhuanet

China\'s social financing, a broad measure of funds raised by entities in the real economy, shrank 1.26 trillion yuan (194 billion U.S. dollars) from a year earlier to 9.8 trillion yuan in the first three quarters, the central bank said Thursday. All sub-indicators grew at slower paces from the same period last year, except foreign-currency loans which expanded by 184.9 billion yuan from a year earlier to 477 billion yuan, and entrusted loans which increased by 562.5 billion yuan to 1.07 trillion yuan, the People\'s Bank of China said in a statement on its website. The yuan-denominated lending accounted for 58 percent of total social financing, up one percentage point from a year earlier, according to the statement. Corporate bonds made up 8.6 percent of the total, down 0.3 percentage point from last year, while foreign-currency loans accounted for 4.9 percent, an increase of 2.5 percentage points, the statement said. As the central bank highlighted the equilibrium of social financing structure, sources of social financing became more diversified with the proportion of direct financing going up. For instance, bonds and stocks have contributed to bolstering the real economy as important fund-raising channels, the central bank said in a statement released last month. Social financing was a relatively new gauge raised by the central bank at the end of last year to reflect increasingly diversified sources of the country\'s credit creation. It includes loans of local and foreign currencies, entrusted loans, trust loans, bank acceptance bills, corporate bonds, equity financing, foreign direct investment and foreign debt. This year\'s total social financing amount was set at around 14 trillion yuan, less than the 14.27 trillion yuan for 2010, the central bank said in April.

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