China’s latest official economic growth numbers are in, showing surprisingly strong economic growth through 2017 of 6.9%. That’s up from a 26-year low in 2016 of 6.7%, according to Bloomberg statistics, and beating the government’s own 6.5% target.

Yet this brings the soaring debt mountain of the world’s second largest economy into focus. China’s phenomenal growth has been largely fuelled by surging debt. The country’s total outstanding debt was worth an enormous 274% of its GDP in the first half of last year, more than double the ratio from 2008, according to an estimate from Deutsche Bank.

China’s government wants to address its huge debts as part of a crack down on financial risk, pollution and poverty in the coming years.

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