China's Debt Soars to Record High of Nearly 290% of GDP in 2023
- China’s debt-to-GDP ratio hit a record high of 287.8% in 2023
- Increase of 13.5 percentage points from 2022
- Reflects weakening economic growth despite slower pace of borrowing
- According to report by National Institution for Finance and Development
- Comes even as China's real GDP growth beat 5.2% target in 2023