Arab Today, arab today china\s february social financing hit 104 trl yuan
Last Updated : GMT 12:24:19
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Arab Today, arab today

China\'s February social financing hit 1.04 trl yuan

Arab Today, arab today

Arab Today, arab today China\'s February social financing hit 1.04 trl yuan

Beinjing - Xinhua

China\'s social financing, a broad measure of funds raised by entities in the real economy, hit 1.04 trillion yuan (165 billion U.S. dollars) in February, up 391.2 billion yuan over the same period last year, the central bank announced Friday. Of the total, new yuan-denominated lending reached 710.7 billion yuan in February, up 173 billion yuan year-on-year, while new foreign currency-denominated lending hit 52.6 billion yuan, up 17.9 billion yuan. Social financing is a relatively new gauge raised by the central bank in late 2010 to reflect the 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 and equity financing.

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