China’s growing debt burden limits space for economic stimulus - Financial Times
Financial Times
F
Financial Times
Original Source
China's mounting debt burden is increasingly constraining the government's ability to deploy new economic stimulus measures to support growth. The rising debt levels are leaving Beijing with fewer policy options to address structural economic challenges and weakening demand.
Subscribe to read
* Sign In
* Subscribe
Open side navigation menuOpen search bar
SubscribeSign In
Popular Searches
* What is the latest news on the UK economy?
* Western support for Ukraine
* How will AI be regulated?
* UK inflation vs the world
* How will the UK economy fare in 2026?
* Home
* World
Sections
+ World Home
+ Middle East war
+ Global Economy
+ UK
+ US
+ China
+ Africa
+ Asia Pacific
+ Emerging Markets
+ Europe
+ War in Ukraine
+ Americas
+ Middle East & North Africa
Most Read
+ Missile strike on Riyadh airport kills 12 and injures hundreds
+ Trump is failing to arrest decline in popularity, FT poll shows
+ Russia steps up bid to kill European defence chiefs, spy agencies warn
+ Trump tells Ukraine to ‘get a new leader’ as US threatens to cut off intelligence-sharing
+ Why are our children not flourishing at school?
* US
Sections
+ US Home
+ US Economy
+ US Companies
+ US Politics & Policy
Most Read
+ Trump is failing to arrest decline in popularity, FT poll shows
+ Trump tells Ukraine to ‘get a new leader’ as US threatens to cut off intelligence-sharing
+ US hits commercial tanker in Gulf of Oman as tensions flare
+ Nvidia in talks to acquire US ‘open’ model start-up Reflection AI
+ Trump agrees deal with Putin for Russia to release diesel
* Companies
Sections
+ Companies Home
+ Energy
+ Financials
+ Health
+ Industrials
+ Media
+ Professional Services
+ Retail & Consumer
+ Tech Sector
+ Telecoms
+ Transport
Most Read
+ Russia steps up bid to kill European defence chiefs, spy agencies warn
+ Nvidia in talks to acquire US ‘open’ model start-up Reflection AI
+ Trump agrees deal with Putin for Russia to release diesel
+ JPMorgan bets on European asset management growth
+ From pig feed to gold dust: the protein revolution
* Tech
Sections
+ Tech Home
+ Artificial intelligence
+ Semiconductors
+ Cyber Security
+ Social Media
Most Read
+ Nvidia in talks to acquire US ‘open’ model start-up Reflection AI
+ AI borrowing slows as investors grow wary of debt binge
+ GoPro’s decline puts Chinese camera rivals in the picture
+ What if AI prefers CVs written by AI?
+ The hazy OpenAI growth metric driving Wall Street
* Markets
Sections
+ Markets Home
+ Alphaville
+ Markets Data
+ Private markets
+ Equities
+ Bonds
+ Currencies
+ Commodities
+ Crypto
+ Monetary Policy Radar
+ Wealth Management
+ Moral Money
+ ETF Hub
+ Asset management
Most Read
+ US hits commercial tanker in Gulf of Oman as tensions flare
+ Trump agrees deal with Putin for Russia to release diesel
+ JPMorgan bets on European asset management growth
+ The world of one trade — AI
+ AI borrowing slows as investors grow wary of debt binge
* Climate
* Opinion
Sections
+ Opinion Home
+ Columnists
+ The FT View
+ The Big Read
+ Lex
+ Obituaries
+ Letters
Most Read
+ Why are our children not flourishing at school?
+ The problem with your AI therapist
+ The danger of pessimism fatigue
+ ‘The whole operation was a bloody shambles’ — Jay Rayner reviews RH London, Mayfair
+ Trump and Hegseth’s execution-type deal
* Lex
* Work & Careers
Sections
+ Work & Careers Home
+ Business School Rankings
+ Business Education
+ Europe's Start-Up Hubs
+ Entrepreneurship
+ Recruitment
+ Business Books
+ Business Travel
+ Working It
Most Read
+ What if AI prefers CVs written by AI?
+ Beating burnout: business schools focus on building resilience
+ Could The Celebrity Traitors tempt workers back to the office?
+ Asset management hirers seek personality and skills
+ Degrees remain essential for best-paid positions in finance
* Life & Arts
Sections
+ Life & Arts Home
+ Arts
+ Books
+ Food & Drink
+ FT Magazine
+ House & Home
+ Style
+ Puzzles
+ Travel
+ FT Globetrotter
Most Read
+ The danger of pessimism fatigue
+ ‘The whole operation was a bloody shambles’ — Jay Rayner reviews RH London, Mayfair
+ Napa Valley’s hangover
+ How NAZA lays bare Israel’s killing of civilians in Gaza
+ ‘La dolce vita’ 2.0: Rome is luring homebuyers with a revamp
* How To Spend It
* Stocks Game
MenuSearch
* Home
* World
* US
* Companies
* Tech
* Markets
* Climate
* Opinion
* Lex
* Work & Careers
* Life & Arts
* How To Spend It
* Stocks Game
Financial Times
SubscribeSign In
Popular Searches
* What is the latest news on the UK economy?
* Western support for Ukraine
* How will AI be regulated?
* UK inflation vs the world
* How will the UK economy fare in 2026?
China’s growing debt burden limits space for economic stimulus
Subscribe to unlock this article
Save over 40% on Standard Digital
was $540 now $299 for your first year.
Save now on essential digital access to trusted FT journalism on any device. Savings based on annualised monthly price.
Subscribe for $299
* Global news & analysis
* Expert opinion
* FT App on Android & iOS
* FT Edit app
* First FT: the day’s biggest stories
* 20+ curated newsletters
* Follow topics and set up personalized alerts
* FT Videos & Podcasts
* 10 monthly gift articles to share
Explore more offers.
Trial
$1 for 4 weeks
Then $75 per month. Complete digital access with exclusive insights and industry deep dives on any device. Cancel anytime during your trial.
Select
* Global news & analysis
* Expert opinion
* FT App on Android & iOS
* FT Edit: Access on iOS and web
* FirstFT: the day's biggest stories
* 20+ curated newsletters
* Follow topics & set alerts with myFT
* FT Videos & Podcasts
* 20 monthly gift articles to share
* Lex: FT's flagship investment column
* 15+ Premium newsletters by leading experts
* FT Digital Edition: our digitised print edition
Premium Digital
Complete coverage
$75 per month
Complete digital access with exclusive insights and industry deep dives on any device.
Select
* Global news & analysis
* Expert opinion
* FT App on Android & iOS
* FT Edit: Access on iOS and web
* FirstFT: the day's biggest stories
* 20+ curated newsletters
* Follow topics & set alerts with myFT
* FT Videos & Podcasts
* 20 monthly gift articles to share
* Lex: FT's flagship investment column
* 15+ Premium newsletters by leading experts
* FT Digital Edition: our digitised print edition
Print
Save over 65%
was $409 now $129 for your first year
Save now on our curated print edition delivered Monday - Saturday\* plus our digitised print replica. Savings based on annual price.
Select
* Weekday Print Edition
* FT Weekend
* FT Digital Edition: our digitised print edition
* Global news & analysis
* Expert opinion
* Special features
* Exclusive FT analysis
Check whether you already have free access via your university or organisation.
Terms & Conditions apply
\*Hand delivery availability confirmed when you enter your address.
Explore our full range of subscriptions.
For individuals
Discover all the plans currently available in your country
DigitalPrintPrint + Digital
For multiple readers
Digital access for organisations. Includes exclusive features and content.
FT Professional
!Over one million readers pay to read the Financial TimesFind out why
Useful links
Support
Help CentreContact UsAbout UsAccessibilityCareersSuppliers
Legal & Privacy
Terms & ConditionsPrivacy PolicyCookie PolicyManage CookiesCopyrightSlavery Statement & Policies
Services
Share News Tips SecurelyIndividual SubscriptionsProfessional SubscriptionsRepublishingExecutive Job SearchAdvertise with the FTFollow the FT on XFT ChannelsFT Schools
Tools
PortfolioFT AppFT Digital EditionFT EditAlerts HubBusiness School RankingsSubscription ManagerNews feedNewslettersCur
* Sign In
* Subscribe
Open side navigation menuOpen search bar
SubscribeSign In
Popular Searches
* What is the latest news on the UK economy?
* Western support for Ukraine
* How will AI be regulated?
* UK inflation vs the world
* How will the UK economy fare in 2026?
* Home
* World
Sections
+ World Home
+ Middle East war
+ Global Economy
+ UK
+ US
+ China
+ Africa
+ Asia Pacific
+ Emerging Markets
+ Europe
+ War in Ukraine
+ Americas
+ Middle East & North Africa
Most Read
+ Missile strike on Riyadh airport kills 12 and injures hundreds
+ Trump is failing to arrest decline in popularity, FT poll shows
+ Russia steps up bid to kill European defence chiefs, spy agencies warn
+ Trump tells Ukraine to ‘get a new leader’ as US threatens to cut off intelligence-sharing
+ Why are our children not flourishing at school?
* US
Sections
+ US Home
+ US Economy
+ US Companies
+ US Politics & Policy
Most Read
+ Trump is failing to arrest decline in popularity, FT poll shows
+ Trump tells Ukraine to ‘get a new leader’ as US threatens to cut off intelligence-sharing
+ US hits commercial tanker in Gulf of Oman as tensions flare
+ Nvidia in talks to acquire US ‘open’ model start-up Reflection AI
+ Trump agrees deal with Putin for Russia to release diesel
* Companies
Sections
+ Companies Home
+ Energy
+ Financials
+ Health
+ Industrials
+ Media
+ Professional Services
+ Retail & Consumer
+ Tech Sector
+ Telecoms
+ Transport
Most Read
+ Russia steps up bid to kill European defence chiefs, spy agencies warn
+ Nvidia in talks to acquire US ‘open’ model start-up Reflection AI
+ Trump agrees deal with Putin for Russia to release diesel
+ JPMorgan bets on European asset management growth
+ From pig feed to gold dust: the protein revolution
* Tech
Sections
+ Tech Home
+ Artificial intelligence
+ Semiconductors
+ Cyber Security
+ Social Media
Most Read
+ Nvidia in talks to acquire US ‘open’ model start-up Reflection AI
+ AI borrowing slows as investors grow wary of debt binge
+ GoPro’s decline puts Chinese camera rivals in the picture
+ What if AI prefers CVs written by AI?
+ The hazy OpenAI growth metric driving Wall Street
* Markets
Sections
+ Markets Home
+ Alphaville
+ Markets Data
+ Private markets
+ Equities
+ Bonds
+ Currencies
+ Commodities
+ Crypto
+ Monetary Policy Radar
+ Wealth Management
+ Moral Money
+ ETF Hub
+ Asset management
Most Read
+ US hits commercial tanker in Gulf of Oman as tensions flare
+ Trump agrees deal with Putin for Russia to release diesel
+ JPMorgan bets on European asset management growth
+ The world of one trade — AI
+ AI borrowing slows as investors grow wary of debt binge
* Climate
* Opinion
Sections
+ Opinion Home
+ Columnists
+ The FT View
+ The Big Read
+ Lex
+ Obituaries
+ Letters
Most Read
+ Why are our children not flourishing at school?
+ The problem with your AI therapist
+ The danger of pessimism fatigue
+ ‘The whole operation was a bloody shambles’ — Jay Rayner reviews RH London, Mayfair
+ Trump and Hegseth’s execution-type deal
* Lex
* Work & Careers
Sections
+ Work & Careers Home
+ Business School Rankings
+ Business Education
+ Europe's Start-Up Hubs
+ Entrepreneurship
+ Recruitment
+ Business Books
+ Business Travel
+ Working It
Most Read
+ What if AI prefers CVs written by AI?
+ Beating burnout: business schools focus on building resilience
+ Could The Celebrity Traitors tempt workers back to the office?
+ Asset management hirers seek personality and skills
+ Degrees remain essential for best-paid positions in finance
* Life & Arts
Sections
+ Life & Arts Home
+ Arts
+ Books
+ Food & Drink
+ FT Magazine
+ House & Home
+ Style
+ Puzzles
+ Travel
+ FT Globetrotter
Most Read
+ The danger of pessimism fatigue
+ ‘The whole operation was a bloody shambles’ — Jay Rayner reviews RH London, Mayfair
+ Napa Valley’s hangover
+ How NAZA lays bare Israel’s killing of civilians in Gaza
+ ‘La dolce vita’ 2.0: Rome is luring homebuyers with a revamp
* How To Spend It
* Stocks Game
MenuSearch
* Home
* World
* US
* Companies
* Tech
* Markets
* Climate
* Opinion
* Lex
* Work & Careers
* Life & Arts
* How To Spend It
* Stocks Game
Financial Times
SubscribeSign In
Popular Searches
* What is the latest news on the UK economy?
* Western support for Ukraine
* How will AI be regulated?
* UK inflation vs the world
* How will the UK economy fare in 2026?
China’s growing debt burden limits space for economic stimulus
Subscribe to unlock this article
Save over 40% on Standard Digital
was $540 now $299 for your first year.
Save now on essential digital access to trusted FT journalism on any device. Savings based on annualised monthly price.
Subscribe for $299
* Global news & analysis
* Expert opinion
* FT App on Android & iOS
* FT Edit app
* First FT: the day’s biggest stories
* 20+ curated newsletters
* Follow topics and set up personalized alerts
* FT Videos & Podcasts
* 10 monthly gift articles to share
Explore more offers.
Trial
$1 for 4 weeks
Then $75 per month. Complete digital access with exclusive insights and industry deep dives on any device. Cancel anytime during your trial.
Select
* Global news & analysis
* Expert opinion
* FT App on Android & iOS
* FT Edit: Access on iOS and web
* FirstFT: the day's biggest stories
* 20+ curated newsletters
* Follow topics & set alerts with myFT
* FT Videos & Podcasts
* 20 monthly gift articles to share
* Lex: FT's flagship investment column
* 15+ Premium newsletters by leading experts
* FT Digital Edition: our digitised print edition
Premium Digital
Complete coverage
$75 per month
Complete digital access with exclusive insights and industry deep dives on any device.
Select
* Global news & analysis
* Expert opinion
* FT App on Android & iOS
* FT Edit: Access on iOS and web
* FirstFT: the day's biggest stories
* 20+ curated newsletters
* Follow topics & set alerts with myFT
* FT Videos & Podcasts
* 20 monthly gift articles to share
* Lex: FT's flagship investment column
* 15+ Premium newsletters by leading experts
* FT Digital Edition: our digitised print edition
Save over 65%
was $409 now $129 for your first year
Save now on our curated print edition delivered Monday - Saturday\* plus our digitised print replica. Savings based on annual price.
Select
* Weekday Print Edition
* FT Weekend
* FT Digital Edition: our digitised print edition
* Global news & analysis
* Expert opinion
* Special features
* Exclusive FT analysis
Check whether you already have free access via your university or organisation.
Terms & Conditions apply
\*Hand delivery availability confirmed when you enter your address.
Explore our full range of subscriptions.
For individuals
Discover all the plans currently available in your country
DigitalPrintPrint + Digital
For multiple readers
Digital access for organisations. Includes exclusive features and content.
FT Professional
!Over one million readers pay to read the Financial TimesFind out why
Useful links
Support
Help CentreContact UsAbout UsAccessibilityCareersSuppliers
Legal & Privacy
Terms & ConditionsPrivacy PolicyCookie PolicyManage CookiesCopyrightSlavery Statement & Policies
Services
Share News Tips SecurelyIndividual SubscriptionsProfessional SubscriptionsRepublishingExecutive Job SearchAdvertise with the FTFollow the FT on XFT ChannelsFT Schools
Tools
PortfolioFT AppFT Digital EditionFT EditAlerts HubBusiness School RankingsSubscription ManagerNews feedNewslettersCur
🔗 Share Article
Tags:#الصين#الديون#السياسة المالية#الاقتصاد#النمو الاقتصادي#التحديات الاقتصادية
Source: Financial Times
For Context
Related reads from the same topic or latest developments