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BEIJING, June 14 (Reuters) - Total social financing (TSF), a broad measure of credit and liquidity in the economy, declined to 1.06 trillion yuan ($156 billion) in May from 1.39 trillion yuan in April, data from the central bank showed on Wednesday.
TSF includes off-balance sheet forms of financing that exist outside the conventional bank lending system, such as initial public offerings, loans from trust companies and bond sales. It can also hint at trends in China's vast shadow banking sector.
$1 = 6.7938 Chinese yuan Reporting by Beijing Monitoring Desk; Editing by Jacqueline Wong