PBOC · People's Bank of China · Pro

China Total Social Financing

Total Social Financing stock: bank loans, bonds and other credit to China's economy, end of month (quarterly in 2015), from the PBoC's own tables. Used as a proxy for China debt.

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More People's Bank of China charts

• China New Yuan Loans Pro
  New yuan bank loans in the month, to everyone including non-bank financial firms. Can be negative in heavy repayment months. PBoC via chinadata.live.
• China Yuan Loan Growth (YoY) Pro
  Growth of the stock of yuan bank loans on a year earlier. This PBoC series starts in 2025 on chinadata.live.
• China Total Social Financing Growth (YoY) Pro
  Growth of the stock of Total Social Financing (bank loans, bonds and other credit to the real economy) on a year earlier, as the PBoC reports it: China's broadest credit gauge.
• China New Social Financing (Monthly) Pro
  New Total Social Financing in the month: all new credit to the real economy, including government bonds. From 2012, PBoC tables. Seasonal: big in January and March.
• China TSF: Yuan Loans (Monthly) Pro
  New yuan loans to households and companies in the month, the bank-loan part of Total Social Financing. Unlike New Yuan Loans it leaves out lending to non-bank financial firms. Can be negative in repayment months.
• China Government Bond Financing (Monthly) Pro
  Net new central and local government bonds in the month, as counted in Total Social Financing: how much of China's credit growth Beijing and the provinces are providing. From 2019.
• China Government Bonds Outstanding (YoY) Pro
  Growth of government bonds outstanding in Total Social Financing on a year earlier. Running well above total TSF growth means the state is carrying more of the credit expansion. From 2019.
• China Corporate Bond Financing (Monthly) Pro
  Net new corporate bonds issued by non-financial companies in the month (part of Total Social Financing). Negative when more bonds are repaid than issued.

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General information only, not financial advice. Data can be delayed, revised or wrong. Sources and credits.