DINNY MCMAHON And COLUM MURPHY at WSJ write:
Analysts at Standard Chartered PLC estimate that Chinese corporate debt was equivalent to 128% of gross domestic product by the end of 2012, up from 101% at the end of 2009. In a 2011 research paper, economists at the Bank for International Settlements found that when a country’s corporate debt exceeds 90%, it becomes a drag on growth.
Read more at Chinese Firms Shrug at Rising Debt – WSJ.com.