China's debt levels are manageable, says statistics bureau

A man riding a motorcycle in front of unfinished buildings at a construction site in the central business district (CBD) in Beijing, China.
A man riding a motorcycle in front of unfinished buildings at a construction site in the central business district (CBD) in Beijing, China. PHOTO: EPA

BEIJING (REUTERS) - China's debt levels are manageable, the statistics bureau said on Friday (Jan 20).

Ning Jizhe, head of the National Statistics Bureau, made the comment in a news conference in Beijing.

Data on Friday showed the economy grew by a faster-than-expected 6.8 per cent in the fourth quarter, boosted by higher government spending and record bank lending which has led to an explosive increase in debt.

China's corporate debt has climbed to 169 per cent of GDP and international institutions have repeatedly urged Beijing to act quickly to tackle the problem in order to avoid a financial crisis.