(Bloomberg) -- The Chinese economy’s debt ratio reached a new record high, according to central bank and statistics bureau data compiled by Bloomberg. 

The macro leverage ratio — or total debt as a percentage of gross domestic product — inched up to 286.1% in the fourth quarter. The debt ratio held by household and non-financial corporates both declined, while government sector saw an increase of 2.3 percentage points.

  • Leverage ratio for non-financial sectors declined to 167.3% vs 167.7% in the previous quarter
  • Leverage ratio for household sector declined to 63.5% vs 63.8% in the previous quarter
  • Leverage ratio for government sector rose to 55.3% vs 53.0% in the previous quarter

Note 1: Loans to households are consumer and operating loans.

Note 2: Loans to non-financial sector include corporate bonds, entrusted loans, trust loans, undiscounted bank acceptance bills and overseas loans, but excluding loans to local government financing vehicles.

Note 3: Data are subject to revisions.

Source: National Bureau of Statistics, People’s Bank of China, Bloomberg

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