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China Boosted Bond Financing, Kept Curbs on Shadow Financing: Daily


Bond issuance and credit financing were the major drivers behind China's countercyclical efforts last year, while off-balance sheet financing such as entrusted and trusted loans declined, according to an article in Securities Daily. These drivers were evidence that the pandemic had not caused regulators to ease curbs, the Daily said. Yuan-denominated loans surged to CNY 19.63 trillion in 2020, up CNY2.82 trillion from the previous year, while total new social financing recorded CNY 34.86 trillion, up CNY 9.19 trillion from 2019, the Daily reported citing PBOC data.

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