China has more outstanding non-financial corporate debt than any other country, says Standard & Poor’s, having overtaken the US last year.
Corporate debt issued by Asian borrowers is expected to exceed that of North America and Europe combined by 2016, says the rating agency.
In a report published yesterday, S&P estimates that non-financial corporate debt in China reached $14.2tn at the end of 2013, compared with $13.1tn in the US.
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