The heightened concern about household debt comes as domestic consumption in China has become a major driver of gross domestic product growth. Photo: Bloomberg

Breakneck growth in China’s credit-card debt since 2012 raises worries about a potential bust, says ratings agency S&P

  • Credit-card debt has grown more than sixfold since 2012, according to S&P
  • Increase mirrors similar booms in Hong Kong, Korea and Taiwan that ended badly
Topic |   China economy

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The heightened concern about household debt comes as domestic consumption in China has become a major driver of gross domestic product growth. Photo: Bloomberg
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