Debt-to-GDP ratio in China said to reach 167%

China’s debt-to-GDP ratio reportedly reached 167% last year, the figure having surged rapidly since 2008, reports the Guangzhou-based Southern Metropolis Daily.

Although the country’s National Audit Office has yet to reveal its official figures, state-owned financial service company Guosen Securities said that as of the end of last year the ratio reached 167% of GDP. The figure grew particularly fast between 2008 and 2010, during which period non-financial corporate debt jumped from 66.4% to 87.7%, while central government debt almost doubled from 17% to 33.5%.

 

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