China Oct total social financing falls to 1.04 trillion yuan

BEIJING: China's total social financing (TSF), a broad measure of credit and liquidity in the economy, fell to 1.04 trillion yuan ($156.54 billion) last month from 1.82 trillion yuan in September, data from the central bank showed on Monday.

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.

It can also hint at trends in China's vast shadow banking sector, which authorities are trying to rein in as part of a broader campaign to contain systemic financial risks.