As of this year, ¥1 of GDP growth is consistent with more than ¥3.5 of credit growth. China’s financial sector is now increasingly feeling the strain of this rapid credit growth, which has led to overcapacity in favored sectors and mounting debt problems for local governments, SOEs, and banks.
自2008年以来，中国的银行部门信贷增长在全世界范围内位居前列，远远超过GDP增速，该国债务总额与GDP的比值也从130%上升到220%。以今年为例，在1元钱的GDP增长的同时却出现了3.5元钱的信贷增长。中国的金融部门正在逐渐感觉到这一快速信贷增长所带来的压力，这一方面导致特定受益的行业产能过剩，另一方面也为地方政府，国企和银行带来了堆积如山的负债。