Chart: China’s Macro Leverage Ratio Rose Further from Record High in 2023 in Q1 2024

China’s overall debt ratio continued to climb in the first quarter to 294.8% despite slower growth in debts, indicating a weaker expansion of the economy, according to a state-backed think tank.

The macro leverage ratio, which measures total outstanding nonfinancial debt as a share of nominal GDP, inched up another 6.8 percentage points after reaching a record 287.8% at the end of 2023, data from the National Institution for Finance and Development (NIFD) showed.

Source : Caixin