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China’s consumer debts continued to grow rapidly in 2018, household leverage rose to 60.4% – PBOC report

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China’s household debts continued to grow rapidly in 2018 as consumers kept on the borrowing binge, which brought the leverage ratio in the sector, or the ratio of consumer debts to gross domestic product (GDP), to more than 60 per cent, much higher than other emerging economies.

Outstanding household debts surged 18.2 per cent to 47.9 trillion yuan ($6.8 trillion), according to the annual Financial Stability Report (FSR) published by the People’s . . .

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