PBOC governor warns China's corporate debt too high

Zhou Xiaochuan, governor of the People’s Bank of China, has cautioned that corporate debt levels are too high, The Financial Times reported, citing comments given at a meeting with business leaders in Beijing. “Lending and other debt as a share of GDP, especially corporate lending and other debt as a share of GDP, is on the high side,” Zhou said, adding that highly leveraged economies were more vulnerable to macroeconomic risk. The Bank for International Settlements has warned that a recent spike in corporate and private debt in emerging markets was “eerily reminiscent” of the financial boom in advanced economies ahead of the global financial crisis.