Updated Extend: 12-Mo TSF Flow Down 12.9 pc, But Stock Jumps 11.6pc in July

Update: The PBOC updated its TSF calculations, mainly affecting stock. The jump was a product of my not having updated the prior data. As the new chart shows, TSF outstanding grew faster than reported last year and that growth is still decelerating.
Reuters: China July total social financing drops to 1.04 trln yuan

Data from PBoC.

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