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Fed's Kaplan says China GDP target appears to have meant higher debt ratio

Robert Kaplan, president and chief executive officer of the Federal Reserve Bank of Dallas
Elizabeth Schulze | CNBC
Robert Kaplan, president and chief executive officer of the Federal Reserve Bank of Dallas

China's economic growth target appears to have meant higher levels of debt to gross domestic product (GDP) for the country, Dallas Federal Reserve Bank President Robert Kaplan said on Thursday in Shanghai.

Kaplan said on Tuesday in Beijing that he is monitoring how slowing growth, high levels of overcapacity and high levels of debt to gross domestic product in major economies outside the United States might be impacting economic conditions in the U.S.

China is aiming for 6.5 percent to 7 percent GDP growth this year.

The IMF has said China's total debt load was 250 percent of GDP in 2015 and could lead to slower growth.