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China December total social financing drops to 1.63 trillion yuan

BEIJING (Reuters) - China's total social financing (TSF), a broad measure of credit and liquidity in the economy, fell slightly to 1.63 trillion yuan ($236.37 billion) in December from 1.74 trillion yuan in November, data from the central bank showed on Thursday.

TSF includes off-balance sheet forms of financing that exist outside the conventional bank lending system, such as initial public offers, loans from trust companies and bond sales. It can also hint at trends in the vast shadow banking sector.

(Reporting by Beijing Monitoring Desk and Sue-Lin Wong; Editing by Kim Coghill)