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CHINA PRESS: The People's Bank of China (PBOC) has adjusted the measurement of
total social financing (TSF) for the second time in three months by now
including local government bonds in TSF -- which, while propping up TSF's gains
in September, fails to cover up the contraction of the actual figures,
Securities Times reported on Thursday.
- TSF rose to CNY2.21 trillion in September, compared to a value of CNY1.51
trillion in August.
- However, when the CNY700 billion in local government bonds issued in the
month are removed from the total, September's TSF continued on a downward trend
with a narrowing growth rate, creating a new record low, the Times said.
(Link to the story: https://tinyurl.com/ycu63ck8)