China sees higher aggregate financing to real economy at end-September

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. [Photo/China News Service] BEIJING – The outstanding aggregate financing to the real economy (AFRE) reached 280.07 trillion yuan ($41.54 trillion) at the end of September, up 13.5 percent year-on-year, according to the People’s Bank of China. Specifically, outstanding RMB loans to the real economy hit 168.26 trillion yuan, up 13.2 percent year-on-year and outstanding foreign currency-denominated loans to the real economy (RMB equivalent) were 2.35 trillion yuan, up 7.7 percent year-on-year. Outstanding entrusted loans registered 11.13 trillion yuan, down 5.1 percent year-on-year, and outstanding trust loans were 7.03…