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China's debt growth to slow over next 5 years, bold action needed: S&P

IMF warned this year that China's credit growth was on a dangerous trajectory

Reuters  |  Beijing 

S&P Global Ratings, which cut China's sovereign credit rating earlier this month, said in a report on Friday that the country's debt growth will slow over the next five years, though it will remain at levels that could cause financial stress. The ratings agency downgraded China by one notch on Sept. 21 to A+ from AA-, citing mounting economic and financial risks from a prolonged period of strong credit growth. China's debt could rise 77 per cent to 302 trillion yuan ($45 trillion) over 2017-2021, though the pace of growth is slowing, S&P said in a report titled ...

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First Published: Fri, September 29 2017. 16:27 IST