However, due to rapid import growth, especially that of service import, the current account surplus to GDP ratio is estimated to shrink to 1.2 percent this year. In comparison with the global numbers, this is a very moderate imbalance. On deleveraging. The leverage ratio of the economy as a whole is relatively high.
If we decompose the debt to GDP ratio, government debt ratio is not high; the household debt to GDP ratio is still low, but grows up quickly. The major problem is the fairly high corporate debt to GDP ratio. Thanks to the low interest rate condition, the current debt service ratio is still reasonable.