Loose credit and consumers who are no longer averse to loans have contributed to the rise in household debt as a share of GDP; numbers have risen from 28% to 40% in the last five years; the share of household loans to overall lending hit 67.5% in the third quarter of 2016, more than twice the share of the year before; China’s household debt as a share of GDP is half of what it is in the US, though if the current pace continues it will come close to equaling the US percentage in a few short years. Source
