China is already well known for its high ratio of non-performing loans (NPL) over GDP.
Although people have to guess what the ratio be, 20%, 25%, 30%, 40%, etc., one thing may
be certain: China may have one of the highest ratios as such in the world, even higher than
the pre-crisis situation of some Southeast Asian countries which then went suffering financial
crisis.
Then the puzzle is: While other countries which has lower NPL/GDP ratio than China
have suffered financial crises, why China seems still able to hold and continue to grow?
seems logical that people come up with prediction that China is going to have financial crisis
soon! Assuming there should be no miracles.
This short paper is to make a more comprehensive analysis of Chinese financial situation
with comparison with other economies in order to answer above questions.

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