As of December 2024, Japan held United States Treasury securities totaling about 1.06 trillion U.S. dollars. Foreign holders of U.S. Treasury debt According to the Federal Reserve and U.S. Department of the Treasury, foreign countries held a total of 8.5 trillion U.S. dollars in U.S. Treasury securities as of December 2024. Of the total held by foreign countries, Japan and Mainland China held the greatest portions, with China holding 759 billion U.S. dollars in U.S. securities. The U.S. public debt In 2023, the United States had a total public national debt of 33.2 trillion U.S. dollars, an amount that has been rising steadily, particularly since 2008. In 2023, the total interest expense on debt held by the public of the United States reached 678 billion U.S. dollars, while 197 billion U.S. dollars in interest expense were intragovernmental debt holdings. Total outlays of the U.S. government were 6.1 trillion U.S. dollars in 2023. By 2029, spending is projected to reach 8.3 trillion U.S. dollars.

The national debt of China amounted to 16.65 trillion U.S. dollars in 2024. Following a continuous upward trend, the national debt has risen by 16.46 trillion U.S. dollars since 1995. Between 2024 and 2030, the national debt will rise by 12.97 trillion U.S. dollars, continuing its consistent upward trajectory.

Key information about China National Government Debt

• China National Government Debt reached 5,896.1 USD bn in Dec 2025, compared with 4,736.4 USD bn in the previous year.
• China National Government Debt data is updated yearly, available from Dec 2005 to Dec 2025.
• The data reached an all-time high of 5,896.1 USD bn in Dec 2025 and a record low of 404.1 USD bn in Dec 2005.

CEIC converts annual Government Debt into USD. Ministry of Finance provides Government Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Government Debt covers Central Government Debt only.


Related information about China National Government Debt

• In the latest reports, China Consolidated Fiscal Balance recorded a deficit equal to 5.1 % of its Nominal GDP in Dec 2025.
• The country's Government debt accounted for 28.8 % of its Nominal GDP in Sep 2025.
• China Nominal GDP reached 4,953.4 USD bn in Sep 2025.

Government debt statistics for China including total debt, debt-to-GDP ratio, and per capita figures.

China recorded a Government Debt to GDP of 88.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - China Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Federal Debt Held by Foreign and International Investors (FDHBFIN) from Q1 1970 to Q3 2025 about foreign, debt, federal, and USA.

Foreign Treasury Holdings China in the United States decreased to 693.30 USD Billion in February from 694.40 USD Billion in January of 2026. United States US Treasuries Held by China - values, historical data, forecasts and news - updated on April of 2026.

Key information about China Government Debt: % of GDP

• China Government debt accounted for 29.4 % of the country's Nominal GDP in Dec 2025, compared with the ratio of 28.8 % in the previous quarter.
• China government debt to GDP ratio data is updated quarterly, available from Mar 2014 to Dec 2025.
• The data reached an all-time high of 29.4 % in Dec 2025 and a record low of 14.0 % in Mar 2014.

CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and rolling sum of quarterly Nominal GDP. The Ministry of Finance provides Government Debt in local currency. The National Bureau of Statistics provides Nominal GDP in local currency. Government Debt covers Central Government only.


Related information about China Government Debt: % of GDP

• In the latest reports, China National Government Debt reached 5,896.1 USD bn in Dec 2025.
• The country's Nominal GDP reached 4,953.4 USD bn in Sep 2025.

External debt stocks, total (DOD, current US$) in China was reported at 2419835436492 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - External debt stocks, total (DOD, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on April of 2026.

Key information about China Household Debt

• China Household Debt reached 12,114.1 USD bn in Feb 2026, compared with the reported number of 12,045.5 USD bn in the previous month
• China Household Debt: USD mn data is updated monthly, available from Jan 2007 to Feb 2026
• The data reached an all-time high of 12,114.1 USD bn in Feb 2026 and a record low of 517.7 USD bn in Jan 2007

CEIC converts monthly Household Debt into USD. The People's Bank of China provides Household Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Loans are used due to the lack of Flow of Funds statistics.


Further information about China Household Debt

• In the latest reports, China Household Debt accounted for 60.4 % of the country's Nominal GDP in Sep 2025
• Money Supply M2 in China increased 47,147.5 USD bn YoY in Sep 2025
• China Foreign Exchange Reserves was measured at 3,427.8 USD bn in Feb 2026
• The Foreign Exchange Reserves equaled 16.4 Months of Import in Feb 2026
• China Domestic Credit reached 56,532.7 USD bn in Feb 2026, representing an increased of 8.3 % YoY

In September 2025, the national debt of the United States had risen to 37.64 trillion U.S. dollars. This reflected an increase of 6.1 percent from 35.46 trillion in 2024. That pushed debt per person in the country well past 100,000 U.S. dollars. Who holds America’s government debt Public debt, also known as national or government debt, is what a country’s central government owes. In the United States, it is owed by the federal government to holders of Treasury securities. Japan is the largest foreign holder of U.S. debt, followed by China. What drives that total higher is a mix of policy choices and economic pressures. Crises leave lasting fiscal consequences In general, government debt rises when spending exceeds revenues and can be reduced through higher taxes or lower outlays. During major shocks, such as the global financial crisis and the COVID-19 pandemic, the U.S. government increased spending sharply to fund crisis management and economic relief. Such episodes leave a lasting imprint on the debt. With borrowing still outpacing revenues, the debt is likely to keep rising absent difficult policy choices. The real question is not whether it will grow, but how long markets and policymakers will tolerate the pace.

Debt service on external debt, total (TDS, current US$) in China was reported at 352496730599 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Debt service on external debt, total (TDS, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2026.

Key information about China External Debt

• China External Debt reached 2,328.8 USD bn in Dec 2025, compared with 2,369.8 USD bn in the previous quarter.
• China External Debt: USD mn data is updated quarterly, available from Jun 2003 to Dec 2025.
• The data reached an all-time high of 2,746.6 USD bn in Dec 2021 and a record low of 182.6 USD bn in Jun 2003.

The State Administration of Foreign Exchange provides quartely External Debt in USD.


Related information about China External Debt

• In the latest reports of China, Current Account recorded a surplus of 243.8 USD bn in Dec 2025.
• Foreign Direct Investment (FDI) increased by 46.4 USD bn in Dec 2025.
• China Direct Investment Abroad expanded by 40.4 USD bn in Dec 2025.
• Its Foreign Portfolio Investment fell by 20.0 USD bn in Dec 2025.
• The country's Nominal GDP was reported at 4,953.4 USD bn in Sep 2025.

In 2023, China held **** percent of foreign-held U.S. securities. Japan held a further **** percent of foreign held securities. The national debt of the United States can be found here.

Key information about China External Debt: % of GDP

• China External Debt accounted for 11.9 % of the country's Nominal GDP in 2025, compared with the ratio of 12.5 % in the previous year.
• China External Debt: % of Nominal GDP data is updated yearly, available from Dec 1985 to Dec 2025.
• The data reached an all-time high of 16.7 % in Dec 2014 and a record low of 5.1 % in Dec 1985.

CEIC calculates External Debt as % of Nominal GDP from annual External Debt and annual Nominal GDP. The State Administration of Foreign Exchange provides External Debt in USD. The National Bureau of Statistics provides Nominal GDP in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.


Related information about China External Debt: % of GDP

• In the latest reports of China, Current Account recorded a surplus of 243.8 USD bn in Dec 2025.
• Foreign Direct Investment (FDI) increased by 46.4 USD bn in Dec 2025.
• China Direct Investment Abroad expanded by 40.4 USD bn in Dec 2025.
• Its Foreign Portfolio Investment fell by 20.0 USD bn in Dec 2025.
• The country's External Debt reached 2,328,829.3 in Dec 2025.
• The country's Nominal GDP was reported at 4,953.4 USD bn in Sep 2025.

Graph and download economic data for Central government debt, total (% of GDP) for China (DEBTTLCNA188A) from 1990 to 1999 about China, debt, government, and GDP.

Present value of external debt (current US$) in China was reported at 471972877895 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Present value of external debt - actual values, historical data, forecasts and projections were sourced from the World Bank on April of 2026.

Graph and download economic data for Projection of General government gross debt for China (GGGDTPCNA188N) from 2025 to 2030 about projection, China, debt, gross, and government.

CN: External Debt: INT: General Government (GG): Bilateral data was reported at 7.384 USD mn in 2032. This records a decrease from the previous number of 8.089 USD mn for 2031. CN: External Debt: INT: General Government (GG): Bilateral data is updated yearly, averaging 249.143 USD mn from Dec 1981 (Median) to 2032, with 52 observations. The data reached an all-time high of 833.113 USD mn in 1997 and a record low of 7.384 USD mn in 2032. CN: External Debt: INT: General Government (GG): Bilateral data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s China – Table CN.World Bank.IDS: External Debt: Disbursements and Interest Payment: Annual. General government bilateral debt includes loans from governments and their agencies (including central banks), loans from autonomous bodies, and direct loans from official export credit agencies. Interest payments are actual amounts of interest paid by the borrower in currency, goods, or services in the year specified. Data are in current U.S. dollars.

External debt stocks, long-term (DOD, current US$) in China was reported at 1066746178386 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - External debt stocks, long-term (DOD, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on April of 2026.