PBoC working to rein in shadow banking risks

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The People's Bank of China

Having tolerated rapid credit growth in recent years, the People’s Bank of China (PBoC) is now showing some signs of looking to rein in the financial sector, and particularly shadow banks.

Total social financing (TSF), the PBoC’s measure of credit growth in the economy, was 12.8% year-on-year in February, a small retreat from record highs in January. Around two-thirds of the 161 trillion yuan ($23 trillion) stock of TSF represents renminbi lending to the real economy.

Today (March 16) the PBoC

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