China's debt showed significant growth in the first quarter. It increased to 304% of GDP according to the data of the International Institute of Finance. In the corresponding quarter of last year, China’s debt burden amounted to 297% of GDP. The total amount of the country's debt exceeded 40 trillion dollars, which is almost 15% of global borrowing. Chinese household debt increased in the first quarter to 54% of GDP. Public debt increased to 51% of GDP. In the first half of this year, Chinese banks issued new loans totaling 9 trillion 670 billion yuan or 1 billion 400 million dollars.
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