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.

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.

Key information about China Government Debt: % of GDP

• China Government debt accounted for 25.6 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 25.1 % in the previous quarter.
• China government debt to GDP ratio data is updated quarterly, available from Mar 2014 to Dec 2024.
• The data reached an all-time high of 25.6 % in Dec 2024 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 4,230.0 USD bn in Dec 2023.
• The country's Nominal GDP reached 4,166.8 USD bn in Mar 2023.

Households Debt in China increased to 60.10 percent of GDP in the first quarter of 2025 from 60 percent of GDP in the fourth quarter of 2024. This dataset provides - China Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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

External Debt in China decreased to 24198 USD Hundred Million in 2024 from 24475 USD Hundred Million in 2023. This dataset provides - China External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about China External Debt: Short Term: % of GDP

• China External Debt: Short Term accounted for 7.5 % of the country's Nominal GDP in 2023, compared with the ratio of 7.5 % in the previous year.
• China External Debt: Short Term: % of Nominal GDP data is updated yearly, available from 1985 to 2023.
• The data reached an all-time high of 12.4 % in 2014 and a record low of 0.9 % in 1989.

CEIC calculates Short Term External Debt as % of Nominal GDP from annual Short Term External Debt and annual Nominal GDP. The State Administration of Foreign Exchange provides Short Term 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: Short Term: % of GDP

• In the latest reports of China, Current Account recorded a surplus of 146.9 USD bn in Sep 2024.
• Foreign Direct Investment (FDI) fell by 8.1 USD bn in Sep 2024.
• China Direct Investment Abroad expanded by 33.9 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 36.9 USD bn in Jun 2024.
• China External Debt: Short Term value stood at 1,427.3 USD bn in Dec 2023.
• The country's Nominal GDP was reported at 4,166.8 USD bn in Mar 2023.

Graph and download economic data for Outstanding Total International Debt Securities to GDP for China (DDDM07CNA156NWDB) from 1987 to 2020 about issues, China, debt, and GDP.

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.

Key information about China National Government Debt

• China National Government Debt reached 4,230.0 USD bn in Dec 2023, compared with 3,750.7 USD bn in the previous year.
• China National Government Debt data is updated yearly, available from Dec 2005 to Dec 2023.
• The data reached an all-time high of 4,230.0 USD bn in Dec 2023 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 4.8 % of its Nominal GDP in Mar 2024.
• The country's Government debt accounted for 24.0 % of its Nominal GDP in Mar 2024.
• China Nominal GDP reached 4,166.8 USD bn in Mar 2023.

Key information about China Household Debt: % of GDP

• China household debt accounted for 63.3 % of the country's Nominal GDP in Mar 2023, compared with the ratio of 61.9 % in the previous quarter.
• China household debt to GDP ratio is updated quarterly, available from Mar 2007 to Mar 2023.
• The data reached an all-time high of 63.3 % in Mar 2023 and a record low of 17.9 % in Dec 2008.

CEIC calculates quarterly Household Debt as % of Nominal GDP from monthly Household Debt and quarterly Nominal GDP. The People's Bank of China provides Household Debt in local currency. The National Bureau of Statistics provides year-to-date Nominal GDP in local currency. Loans are used due to the lack of Flow of Funds statistics.


Related information about China Household Debt: % of GDP

• In the latest reports, China Household Debt reached 10,834.1 USD bn in Jun 2023.
• Money Supply M2 in China increased 11.6 % YoY in May 2023.
• China Foreign Exchange Reserves was measured at 3,193.0 USD bn in Jun 2023.
• The Foreign Exchange Reserves equaled 14.9 Months of Import in Jun 2023.
• China Domestic Credit reached 43,669.0 USD bn in Jun 2023, representing an increased of 10.8 % YoY.
• The country's Non Performing Loans Ratio stood at 1.6 % in Mar 2023, compared with the ratio of 1.6 % in the previous quarter.

Households Debt in China increased to 99.90 % of gross income in 2018 from 93.40 % in 2017. This dataset provides - China Households Debt To Income- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Developing and emerging market economies have increased their debt exposure to China in recent years. Despite its initial promise, many borrowers of Chinese loans face difficulties in meeting these loan obligations. Under what circumstances do Chinese borrowers in debt distress turn to the International Monetary Fund? Our starting point is that Chinese loans are tied into projects that promise to generate sufficient revenue to repay these loans. We expect that governments turn to the IMF for bailout funding when a severe shock erodes the value of the underlying loan collateral, requiring mobilizing revenues and implementing austerity measures. Without alternative financing options, the IMF becomes the most viable option to weather financial distress. We expect governments to accept a `whatever-it-takes' number of loan conditions. Using cross-country time series analysis for up to 162 countries between 2000 and 2018, we show that defaults on Chinese debt trigger IMF programs only when a country experiences a severe adverse shock. Countries tapping the IMF also accept a greater number of loan conditions. From a policy perspective, current financial distress in borrowing countries underscores the urgency to design and deploy targeted governance reform measures beyond program safeguards and loan conditions to mitigate the built-up of macro-financial vulnerabilities, independent of where the money is coming from.

Key information about China Household Debt

• China Household Debt reached 11,498.4 USD bn in Jan 2025, compared with the reported number of 11,347.6 USD bn in the previous month
• China Household Debt: USD mn data is updated monthly, available from Jan 2007 to Jan 2025
• The data reached an all-time high of 11,691.0 USD bn in Sep 2024 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 63.3 % of the country's Nominal GDP in Mar 2023
• Money Supply M2 in China increased 44,045.8 USD bn YoY in Sep 2024
• China Foreign Exchange Reserves was measured at 3,209.0 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 13.9 Months of Import in Dec 2024
• China Domestic Credit reached 49,338.1 USD bn in Jan 2025, representing an increased of 7.9 % YoY

China Foreign Debt: U.S. Dollar data was reported at 966.080 USD bn in Dec 2024. This records a decrease from the previous number of 1,000.160 USD bn for Sep 2024. China Foreign Debt: U.S. Dollar data is updated quarterly, averaging 856.892 USD bn from Dec 2009 (Median) to Dec 2024, with 61 observations. The data reached an all-time high of 1,290.516 USD bn in Mar 2022 and a record low of 180.883 USD bn in Dec 2009. China Foreign Debt: U.S. Dollar data remains active status in CEIC and is reported by State Administration of Foreign Exchange. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Foreign Debt: Quarterly.

Over the last decade, the debt of nonfinancial corporations in China have grown the fastest of all major economies, increasing from **** trillion U.S. dollars in 2008 to **** trillion U.S. dollars in 2022. As a result, Chinese corporate debt now exceeds U.S. corporate debt, which stood at nearly ** trillion U.S. dollars in 2022.

Graph and download economic data for General government gross debt for Taiwan Province of China (GGGDTATWA188N) from 1997 to 2023 about Taiwan, China, debt, gross, and government.

China Gross Public Debt: % of GDP: Central Government: External Creditors data was reported at 0.723 % in Jun 2017. This records a decrease from the previous number of 0.738 % for Dec 2016. China Gross Public Debt: % of GDP: Central Government: External Creditors data is updated quarterly, averaging 0.275 % from Dec 2009 (Median) to Jun 2017, with 16 observations. The data reached an all-time high of 0.738 % in Dec 2016 and a record low of 0.124 % in Jun 2011. China Gross Public Debt: % of GDP: Central Government: External Creditors 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: QPSD: Gross Public Debt: % of GDP: Central Government.

China Local Government Debt Outstanding data was reported at 24,000,000.000 RMB mn in 2014. This records an increase from the previous number of 15,885,832.000 RMB mn for 2012. China Local Government Debt Outstanding data is updated yearly, averaging 9,867,197.000 RMB mn from Dec 2007 (Median) to 2014, with 6 observations. The data reached an all-time high of 24,000,000.000 RMB mn in 2014 and a record low of 4,509,831.000 RMB mn in 2007. China Local Government Debt Outstanding data remains active status in CEIC and is reported by National Audit Office. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Debt: National Audit Office.

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.