Published: 7:04am, 15 May, 2018 Updated: 5:48pm, 15 May, 2018
China is in more danger of a financial crisis than official data suggests, a senior government financial adviser, Xia Bin, has warned, adding that Beijing must do more to prevent a downturn in the economy. “Systemic risks are elusive and spread fast,” he said. An example of skewed figures is China’s official non-performing loan ratio, which he said bore little resemblance to the correct figure. The Chinese economy grew by 7.4% last year, compared with an annual average growth rate of 6.7% for all emerging markets, according to the World Bank.