China's debt rate reached a new record high in the first quarter of this year, as banks expanded their lending to companies following the lifting of restrictions imposed to prevent the spread of the "Corona" virus as part of the zero-infection strategy.
Citing data from China's central bank and the National Bureau of Statistics, Bloomberg revealed that China's debt rate has reached 279 percent of GDP. The debt ratio rose 7.7 percentage points from the fourth quarter of last year, the largest quarterly increase in three years. The debt ratio of non-financial institutions increased by 5.8 percentage points, while the debt ratio of households and government sectors increased by one percentage point.
Source: (Asharq Al-Awsat Newspaper, Edited)
