不仅新增大量国有企业和地方政府债务，民营企业债务也通过影子银行大增，因为中国企业很难进入股权形式的资本市场，导致中国的债务上升到占 GDP之比达 282 % 。
The private sector, too, built up debt, with its limited access to equity capital driving firms to the shadow banking sector. The result is a debt overhang of 282% of GDP.