China's central bank warns about rising debt levels

An overall rise in debt levels in China is increasing financial risks, the central bank said on Friday in its second-quarter monetary policy report that was released online. 

PHOTO: REUTERS

AUG 7, 20158:25 PM

[BEIJING] An overall rise in debt levels in China is increasing financial risks, the central bank said on Friday in its second-quarter monetary policy report that was released online.

The People's Bank of China said in the 64-page report that China still relied on the government's spending on infrastructure to drive its economy, which it predicted could face headwinds in the near term due to wide-ranging reforms.

REUTERS