As China's debt risks grow, here are 3 warning signs to watch

Signage illuminated at the China Huarong Asset Management Co. headquarters on Financial Street in Beijing, China, on Wednesday, May 19, 2021. Yan Cong | Bloomberg | Getty Images BEIJING — Weak spots are emerging in China's growing debt pile. National debt levels have climbed to nearly four times of GDP, while an increasing number of corporate bonds have defaulted in the last 18 months. Although the latest defaults represent a fraction of China's $13 trillion onshore bond market, some high-profile cases have rattled investors since the common perception has been that the Chinese government will not let state-supported firms fail….