A key gauge of China's debt has topped 300% of gross domestic product, acco...
FILE PHOTO: A man rides an electric motorcycle carrying water past Chow Tai Fook Financial Center in Tianjin's Binhai new district, China May 16, 2019. REUTERS/Jason Lee/File Photo
China’s total corporate, household and government debt rose to 303% of GDP in the first quarter of 2019, from 297% in the same period a year earlier, the IIF said in a report this week which highlighted rising debt levels worldwide.“While authorities’ efforts to curb shadow bank lending have prompted a cutback in non-financial corporate debt, net borrowing in other sectors has brought China’s total debt to over $40 trillion - some 15% of all global debt,” the report said.
China’s economic growth slowed to 6.2% in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting U.S. trade pressure.
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