As of December 2024, Japan held United States treasury securities totaling about 1.06 trillion U.S. dollars. Foreign holders of United States 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 intra governmental 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 was approximately 16.65 trillion U.S. dollars in 2024. Following a continuous upward trend, the national debt has risen by around 16.46 trillion U.S. dollars since 1995. Between 2024 and 2030, the national debt will rise by around 13 trillion U.S. dollars, continuing its consistent upward trajectory.

Graph and download economic data for Federal Debt Held by Foreign and International Investors (FDHBFIN) from Q1 1970 to Q2 2025 about foreign, debt, federal, and USA.

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.

. 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 44,251.0 USD bn YoY in Mar 2025
• China Foreign Exchange Reserves was measured at 3,343.3 USD bn in Oct 2025
• The Foreign Exchange Reserves equaled 15.5 Months of Import in Oct 2025
• China Domestic Credit reached 52,818.4 USD bn in Oct 2025, representing an increased of 7.9 % YoY

Debt service on external debt, total (TDS, current US$) in China was reported at 385484224724 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Debt service on external debt, total (TDS, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on October of 2025.

Graph and download economic data for General government gross debt for China (GGGDTACNA188N) from 1995 to 2024 about China, debt, gross, and government.

The outstanding value of China's general government debt securities has shown an upward trend from 2000 to the third quarter of 2024, rising from *** billion U.S. dollars to over ** trillion U.S. dollars. The largest increase occurred between 2019 and 2020, when it went from *** trillion to *** trillion U.S. dollars.

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 Stated can be found here.

The graph shows national debt in China related to gross domestic product until 2024, with forecasts to 2030. In 2024, gross national debt ranged at around 88 percent of the national gross domestic product. The debt-to-GDP ratio In economics, the ratio between a country's government debt and its gross domestic product (GDP) is generally defined as the debt-to-GDP ratio. It is a useful indicator for investors to measure a country's ability to fulfill future payments on its debts. A low debt-to-GDP ratio also suggests that an economy produces and sells a sufficient amount of goods and services to pay back those debts. Among the important industrial and emerging countries, Japan displayed one of the highest debt-to-GDP ratios. In 2024, the estimated national debt of Japan amounted to about 250 percent of its GDP, up from around 180 percent in 2004. One reason behind Japan's high debt load lies in its low annual GDP growth rate. Development in China China's national debt related to GDP grew slowly but steadily from around 23 percent in 2000 to 34 percent in 2012, only disrupted by the global financial crisis in 2008. In recent years, China increased credit financing to spur economic growth, resulting in higher levels of debt. China's real estate crisis and a difficult global economic environment require further stimulating measures by the government and will predictably lead to even higher debt growth in the years ahead.

Key information about China External Debt: % of GDP

• China External Debt accounted for 12.9 % of the country's Nominal GDP in 2024, compared with the ratio of 13.4 % in the previous year.
• China External Debt: % of Nominal GDP data is updated yearly, available from Dec 1985 to Dec 2024.
• 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 195.6 USD bn in Sep 2025.
• Foreign Direct Investment (FDI) increased by 8.5 USD bn in Sep 2025.
• China Direct Investment Abroad expanded by 39.9 USD bn in Sep 2025.
• Its Foreign Portfolio Investment increased by 8.3 USD bn in Jun 2025.
• The country's External Debt reached 2,436,751.9 in Jun 2025.
• The country's Nominal GDP was reported at 4,953.4 USD bn in Sep 2025.

Key information about China External Debt

• China External Debt reached 2,436.8 USD bn in Jun 2025, compared with 2,451.4 USD bn in the previous quarter.
• China External Debt: USD mn data is updated quarterly, available from Jun 2003 to Jun 2025.

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 195.6 USD bn in Sep 2025.
• Foreign Direct Investment (FDI) increased by 8.5 USD bn in Sep 2025.
• China Direct Investment Abroad expanded by 39.9 USD bn in Sep 2025.
• Its Foreign Portfolio Investment increased by 8.3 USD bn in Jun 2025.
• The country's Nominal GDP was reported at 4,953.4 USD bn in Sep 2025.

Actual value and historical data chart for China Present Value Of External Debt Us Dollar

The value of U.S. Treasury securities held by residents of Russia amounted to ** million U.S. dollars in March 2025, marking a stark contrast to ***** billion U.S. dollars held in January 2020. The lowest over the period under consideration was recorded in November 2023 at ** million U.S. dollars. Furthermore, in March 2020, the figure plummeted to **** billion U.S. dollars, down from **** billion U.S. dollars one month prior. Russia’s holdings of U.S. treasury securities have decreased since 2014 following the Western sanctions over the annexation of Crimea and have further dropped in 2022 after more restrictions were imposed over the war in Ukraine. What are U.S. treasury holdings? U.S. treasury holdings are government debt instruments that contribute to the funding of various government projects in the country. The U.S. Department of Treasury allows individuals and organizations to invest in treasury notes, bills, and bonds, which are the main three types of securities. Just under half of the outstanding ** trillion U.S. dollars as of May 2024 were in the form of treasury notes. The notes have varying maturities and coupon payment frequencies, which are different from the maturity periods of treasury bills and bonds. Main foreign holders of U.S. treasury securities Foreign holdings of U.S. treasury debt amounted to ***** trillion U.S. dollars as of January 2024. Japan and China held the largest portions, with China possessing ***** billion U.S. dollars in U.S. securities. Additionally, other significant foreign holders included oil exporting countries and Caribbean banking centers.

Actual value and historical data chart for China Debt Service On External Debt Public And Publicly Guaranteed Ppg Tds Us Dollar

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.

Key information about Hong Kong SAR (China) National Government Debt

• Hong Kong SAR (China) National Government Debt reached 190.1 USD bn in Mar 2024, compared with 181.7 USD bn in the previous year.
• Hong Kong SAR (China) National Government Debt data is updated yearly, available from Mar 2003 to Mar 2024.
• The data reached an all-time high of 190.1 USD bn in Mar 2024 and a record low of 45.3 USD bn in Mar 2003.

CEIC converts annual Government Debt into USD. The Treasury provides Government Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Government Debt covers Provision for Pensions, Bonds and Notes Issued and Other Liabilities. Government Debt is in annual frequency, ending in March of each year.


Related information about Hong Kong SAR (China) National Government Debt

• In the latest reports, Hong Kong SAR (China) Consolidated Fiscal Balance recorded a deficit equal to 6.1 % of its Nominal GDP in Sep 2024.
• The country's Government debt accounted for 49.1 % of its Nominal GDP in Mar 2024.
• Hong Kong SAR (China) Nominal GDP reached 91.4 USD bn in Mar 2023.

CN: External Debt: INT: PS: Multilateral data was reported at 1.209 USD bn in 2031. This records a decrease from the previous number of 1.366 USD bn for 2030. CN: External Debt: INT: PS: Multilateral data is updated yearly, averaging 732.016 USD mn from Dec 1983 (Median) to 2031, with 49 observations. The data reached an all-time high of 2.103 USD bn in 2024 and a record low of 3.338 USD mn in 1983. CN: External Debt: INT: PS: Multilateral 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. Public sector multilateral loans include loans and credits from the World Bank, regional development banks, and other multilateral and intergovernmental agencies. Excluded are loans from funds administered by an international organization on behalf of a single donor government; these are classified as loans from governments. 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.

CN: External Debt: DIS: Public Sector (PS): Bilateral data was reported at 0.000 USD mn in 2023. This records a decrease from the previous number of 54.000 USD mn for 2022. CN: External Debt: DIS: Public Sector (PS): Bilateral data is updated yearly, averaging 1.251 USD bn from Dec 1981 (Median) to 2023, with 43 observations. The data reached an all-time high of 6.227 USD bn in 1995 and a record low of 0.000 USD mn in 2023. CN: External Debt: DIS: Public Sector (PS): 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. Public sector bilateral debt includes loans from governments and their agencies (including central banks), loans from autonomous bodies, and direct loans from official export credit agencies. Disbursements are drawings by the borrower on loan commitments during the year specified. Data are in current U.S. dollars.

CN: External Debt: DIS: PPG: Bilateral Concessional data was reported at 0.000 USD mn in 2022. This stayed constant from the previous number of 0.000 USD mn for 2021. CN: External Debt: DIS: PPG: Bilateral Concessional data is updated yearly, averaging 39.947 USD mn from Dec 1981 (Median) to 2022, with 42 observations. The data reached an all-time high of 1.093 USD bn in 2011 and a record low of 0.000 USD mn in 2022. CN: External Debt: DIS: PPG: Bilateral Concessional 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. Bilateral debt includes loans from governments and their agencies (including central banks), loans from autonomous bodies, and direct loans from official export credit agencies. Concessional debt is defined as loans with an original grant element of 35 percent or more. The grant element of a loan is the grant equivalent expressed as a percentage of the amount committed. It is used as a measure of the overall cost of borrowing. The grant equivalent of a loan is its commitment (present) value, less the discounted present value of its contractual debt service; conventionally, future service payments are discounted at 5 percent. Disbursements are drawings by the borrower on loan commitments during the year specified. Data are in current U.S. dollars.