China's macro leverage ratio down to 272.5 pct in 2021

Xinhua
09 Mar 2022, 02:05 GMT+10

BEIJING, March 8 (Xinhua) -- China's macro leverage ratio, which measures the economy's overall indebtedness, has grown at a generally stable rate since 2017, the central bank said Tuesday.

The macro leverage ratio, a ratio of a country's total debt to gross domestic product, rose at an average annual rate of 4.8 percentage points in the world's second-largest economy over the past five years, said the People's Bank of China in an online statement.

"Compared with other major economies, the rise of China's macro leverage ratio has been controllable since the COVID-19 outbreak, and a relatively small increase in debt has supported the country's rapid economic recovery," the statement said.

China's macro leverage ratio fell to 272.5 percent in 2021, down from 280.2 percent in 2020.

The drop was due to the country's effective epidemic prevention and control, steady economic recovery and effective macro policies, according to the statement.

"The increase of the macro leverage ratio is expected to remain basically stable in 2022, which will create financial policy leeway to increase support for the real economy," the statement said.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Beijing Bulletin.

More Information

15 ℃

Fair in Beijing/Capital

Technology

Section

Apple's appeal on fines over App Store rejected by Dutch regulator

AMSTERDAM, The Netherlands: This week, Dutch competition regulator, the ACM, rejected an appeal by Apple against fines worth €50 million. ...

Japanese startup develops robot resembling 'Mobile Suit Gundam'

TOKYO, Japan: Tokyo-based startup Tsubame Industries has developed a four-wheeled robot that resembles the "Mobile Suit Gundam" from the popular ...

Ireland sees new Intel chip plant celebrates opening

DUBLIN, Ireland: Taoiseach Leo Varadkar has said that Intel's new factory in Co Kildare will play a "strategic" role in ...

FTC takes Amazon to court for monopolizing online marketspace

SEATTLE, Washington: As part of Washington's efforts to stop Big Tech from monopolizing the most lucrative parts of the internet, ...

Musk set to expand internet services in Africa Bloomberg

Starlink will reportedly sell terminals and connectivity kits in several countries on the continentElon Musk's SpaceX will partner with e-commerce ...

Even before deepfakes, tech was a tool of abuse and control

Of the many "profound risks to society and humanity" that have tech experts worried about artificial intelligence (AI), the spread ...

Business

Section