Caixin OnlineFinance & EconomicsTop Stories Finance Closer Look: Gov’t May Struggle to Keep Lid on Total Social Financing
01.25.2013 16:54

Closer Look: Gov’t May Struggle to Keep Lid on Total Social Financing

Controlling debt apart from bank loans will be tricky, but failure to do so would create a host of problems
By staff reporter Huo Kan

The central government has said it would keep the growth of bank loans and total social financing steady this year. But its control over total financing has weakened because the share of bank loans in Total Social Financing (TSF) has declined.

That means it would be very difficult to keep the growth of the money supply at a modest level.

TSF is a term coined by the central bank to monitor aggregate financing apart from yuan bank loans. It contains six other categories: foreign-currency loans, entrusted loans, trust loans, bankers' acceptance bills, corporate bonds and non-financial stock sales.

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Latest Issue:
Ammonia in the Haze
Farms and cars are contributing to rising levels of ammonia gas in the country, but the impact on air pollution is still hazy
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