China’s total debt could rise 77 percent by 2021, S&P Global Ratings reportedly said Friday.
Although the pace of debt expansion slowed, the system’s high credit risks could still incrementally increase, the rating agency said.
The agency said the measures taken to curb borrowing had only tentative results so far.
S&P had downgraded China’s sovereign ratings, last week, citing higher economic and financial risks after a prolonged period of strong credit growth. The rating was lowered to A+.
Source: RTT News