China Debt Ratio Three Times GDP in Record High – Nikkei

A China yuan note is seen in this image by Thomas White, Reuters.

China’s debt as a percentage of its economy hit a new peak at the end of June, with local authorities being forced to borrow heavily to support the country’s Covid-hit economy, Nikkei Asia reported.

The amount of credit to China’s non-financial sector came to $51.87 trillion, or 295% of gross domestic product, at the half-year end – the highest debt-to-GDP ratio in data going back to 1995, statistics released by the Bank for International Settlements revealed according to the report.

Read the full story: Nikkei Asia

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.