CHINA-ECONOMY: DEBT
According to estimates released by the Chinese Academy of Social Sciences, China’s total debt – including housing, financial and government sector debt – hit 168.48 trillion yuan ($25 trillion) at the end of last year, equivalent to 249% of national GDP. China's household debt has also written appreciably in the past few years with the debt owed by households having increased now from 28% of GDP to more than 40% in the past five years. |