President Donald Trump shakes hands with Under Secretary of the Treasury for International Affairs David Malpass during a Roosevelt Room event at the White House February 6, 2019 in Washington, DC.

There is too much debt floating around the world and China is a big reason why, World Bank President David Malpass said Thursday.

"There are challenges facing the world in terms of how do you have transparent projects that are high quality, where the debt is transparent. China moved so fast that in some part of the world there is just too much debt," Malpass told CNBC's Sara Eisen on "Squawk on the Street." "That's something that we can work on with China."

China has lent trillions of dollars to other countries, including the U.S. As of January, China owns $1.12 trillion in U.S. Treasurys, according to data from the Treasury Department.