The scale of social financing is a total index that comprehensively reflects the relationship between finance and economy and the degree of financial support to the real economy. The scale of social financing refers to the total amount of funds obtained by the real economy from the financial system in a certain period (monthly, quarterly or annual), which is an incremental concept. The financial system here is the concept of overall finance, including banks, securities, insurance and other financial institutions from the institutional point of view; From the market point of view, it includes credit market, bond market, stock market, insurance market and intermediary business market.
Specifically, the scale of social financing mainly includes RMB loans, foreign currency loans, entrusted loans, trust loans, undiscounted bank acceptance bills, corporate bonds, domestic stock financing of non-financial enterprises, insurance company compensation, investment real estate and other financial instruments financing.
With the development of China's financial market and the deepening of financial innovation, the real economy will also increase new financing channels, such as private equity funds and hedge funds. When the future conditions are ripe, it can be included in the scale of social financing.