No, it says right in the second paragraph: 7.6 trillion yuan ($1.2 trillion) as being the amount of new debt forecast to have been issued in 2015. Later on it gives 1.2 trillion yuan as the amount of bad debt -- loans that are already non-performing.
I keep thinking that Bloomberg is trying to scare the readers with big numbers. 1.2 Trillion Yuan is about $188 billion. China's population is about 1.35 billion, China GDP is about $9.25 trillion.
So non-performing loans are $188b/9240b = 0.0203 or 2% of GDP. This isn't anything the Central Banks can't deal with.
