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But its nonfinancial company debt as a share of GDP nonetheless increased from 149 percent on the end of 2019 to simply about one hundred sixty p.c by the end of March 2020, the largest increase in a single quarter because the international monetary disaster, based on the Bank for International Settlements. China has cautiously tried to keep away from relying totally on massive credit growth to stimulate its economy. Recent news of a presumably quick debt distress of China Evergrande Group—the second largest property developer within the country—has put the issue of China’s extreme company debt beneath the spotlight. Space News reported at the time that this led to classified meetings amongst US government officials.
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