The national debt in China was forecast to continuously increase between 2024 and 2029 by in total 10.6 trillion U.S. dollars (+63.47 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 27.2 trillion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.The indicator describes the general government gross debt which consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more key insights for the national debt in countries like Taiwan, Japan, and South Korea.

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.

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.

The graph shows national debt in China related to gross domestic product until 2023, with forecasts to 2029. In 2023, gross national debt ranged at around 84 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 2023, the estimated national debt of Japan amounted to about 255 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.

Graph and download economic data for Federal Debt Held by Foreign and International Investors (FDHBFIN) from Q1 1970 to Q4 2024 about foreign, debt, federal, and USA.

Key information about US External Debt

• United States External Debt reached 25,798.1 USD bn in Sep 2024, compared with 26,895.8 USD bn in the previous quarter.
• US External Debt: USD mn data is updated quarterly, available from Jun 2003 to Sep 2024.
• The data reached an all-time high of 26,895.8 USD bn in Jun 2024 and a record low of 6,570.2 USD bn in Jun 2003.

The US Department of Treasury provides External Debt in USD based on BPM6. External Debt prior to Q3 2014 is based on BPM5.


Related information about US External Debt

• In the latest reports of US, Current Account recorded a deficit of 310.9 USD bn in Sep 2024.
• Foreign Direct Investment (FDI) increased by 96.6 USD bn in Sep 2024.
• US Direct Investment Abroad expanded by 96.8 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 637.6 USD bn in Sep 2024.
• The country's Nominal GDP was reported at 6,632.4 USD bn in Mar 2023.

In 2023, China held 5.33 percent of foreign held U.S. securities. Japan held a further 9.28 percent of foreign held securities. The national debt of the United Stated can be found here.

This statistic shows the national debt of important industrial and emerging countries in 2023 in relation to the gross domestic product (GDP). In 2023, the national debt of China was at about 83.64 percent of the gross domestic product.

United States FSU: Debt: Long Term: Zero Coupon: China data was reported at 3.000 USD mn in 2017. This records an increase from the previous number of 0.000 USD mn for 2016. United States FSU: Debt: Long Term: Zero Coupon: China data is updated yearly, averaging 0.000 USD mn from Dec 2003 (Median) to 2017, with 11 observations. The data reached an all-time high of 3.000 USD mn in 2017 and a record low of 0.000 USD mn in 2016. United States FSU: Debt: Long Term: Zero Coupon: China data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z044: U.S. Residents' Portfolio Holdings of Foreign Securities.

China 10Y Bond Yield was 1.88 percent on Wednesday March 26, according to over-the-counter interbank yield quotes for this government bond maturity. China 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on March of 2025.

The value of U.S. Treasury securities held by residents of Russia amounted to 46 million U.S. dollars in April 2024, marking a stark contrast to the 10.51 billion U.S. dollars held in January 2020. The lowest over the period under consideration was recorded in November 2023 at 28 million U.S. dollars. Furthermore, in March 2020, the figure plummeted to 3.85 billion U.S. dollars, down from 12.6 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 27 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 eight trillion U.S. dollars as of January 2024. Japan and China held the largest portions, with China possessing 797.7 billion U.S. dollars in U.S. securities. Additionally, other significant foreign holders included oil exporting countries and Caribbean banking centers.

The statistic shows Japan's national debt from 2019 to 2022 in relation to gross domestic product (GDP), with projections up until 2029. In 2022, the national debt of Japan amounted to about 256.3 percent of the gross domestic product. An eye on Japan’s national debt Japan’s national debt ranks first among countries with the highest debt levels in the world, far surpassing the debt levels of Greece - which ranks number two - whose financial crisis has been in the spotlight recently. Italy is third, followed by Jamaica, Lebanon and Enritrea. Currently, Japan’s national debt amounts more than a thousand trillion yen and the country’s debt is predicted to keep rising for the foreseeable future, albeit only slightly. Japan’s national debt is not without consequence for the global economy, because the country claims the fourth-largest share in global gross domestic product. Therefore, the effects on the global economy would and could have a much greater global impact than that of a country such as Greece - considering its share of the global economy adjusted for purchase power parity was less than 0.29 percent in 2011. The debt levels of China, the United States and India should also be watched closely as they together make up the largest share of global GDP. At the moment, Japan’s inflation rate is among the lowest in the world, but as Japan attempts to reduce its national debt, this could change.

The benchmark interest rate in China was last recorded at 3.10 percent. This dataset provides the latest reported value for - China Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

China Outbound Portfolio Investment Asset: Debt Securities: US Virgin Islands data was reported at 0.000 USD mn in Jun 2023. This records a decrease from the previous number of 0.032 USD mn for Dec 2022. China Outbound Portfolio Investment Asset: Debt Securities: US Virgin Islands data is updated semiannually, averaging 128.766 USD mn from Jun 2015 (Median) to Jun 2023, with 17 observations. The data reached an all-time high of 1.016 USD bn in Jun 2017 and a record low of 0.000 USD mn in Jun 2023. China Outbound Portfolio Investment Asset: Debt Securities: US Virgin Islands data remains active status in CEIC and is reported by State Administration of Foreign Exchange. The data is categorized under China Premium Database’s Balance of Payments – Table CN.JT: CPIS: Outbound Portfolio Investment Asset by Country: Bond.

This statistic shows the United States goods trade deficit with China from 2014 to 2024. In 2024, the value of U.S. imports from China exceeded the exports to China by around 295.4 billion U.S. dollars.

This graph shows the state debt per capita in the United States for the 2013 fiscal year. In 2013, the state of Alabama had a total per capita debt of 14,173 U.S. dollars. Average state debt per capita amounted to 16,178 U.S. dollars.

The national debt of the United Stated can be found here. State debt National debts, also known as public debt and government debt, are the amount of money borrowed by states to cover their budget deficits. Nearly all governments use the debt method to finance operations and projects. Government debt can be seen as an indirect debt on taxpayers.

The public debt of the United States has been rising steadily for the last decades from 3,233.31 billion U.S. dollars in 1990 to 17,156.12 billion U.S dollars in 2013.

Although the United States’ debt is significantly high, the country with the highest public debt in 2014, in relation to the gross domestic product (GDP), was Japan. Japan had an estimated debt of about 246.16 percent in relation to the gross domestic product, according to IMF data. Nigeria was among the countries with the lowest national debt in 2014 in relation to the gross domestic product (GDP), with an estimated level of national debt reached about 15.91 percent of the GDP.

Much of the U.S. public debt is held by foreign investors, debt holders like nations or institutions which lent money to the United States. About 47 percent of the U.S. public debt is hold by foreign investors, while the Federal Reserve Bank holds 10 percent of the U.S public debt. As of August 2014, China and Japan are the major foreign holders of U.S. treasury debt. According to the Federal Reserve and U.S. Department of the Treasury, China held 1,270.9 billion U.S. dollars, while Japan held 1,220.1 billion U.S. dollars.

China Outbound Portfolio Investment Asset: Debt Securities: US Minor Outlying Islands data was reported at 0.000 USD mn in Dec 2023. This stayed constant from the previous number of 0.000 USD mn for Jun 2023. China Outbound Portfolio Investment Asset: Debt Securities: US Minor Outlying Islands data is updated semiannually, averaging 0.000 USD mn from Jun 2015 (Median) to Dec 2023, with 18 observations. The data reached an all-time high of 0.000 USD mn in Dec 2023 and a record low of 0.000 USD mn in Dec 2023. China Outbound Portfolio Investment Asset: Debt Securities: US Minor Outlying Islands data remains active status in CEIC and is reported by State Administration of Foreign Exchange. The data is categorized under China Premium Database’s Balance of Payments – Table CN.JT: CPIS: Outbound Portfolio Investment Asset by Country: Bond.

China Outbound Portfolio Investment Asset: Debt Securities: Short-Term: US Virgin Islands data was reported at 0.000 USD mn in Dec 2023. This stayed constant from the previous number of 0.000 USD mn for Jun 2023. China Outbound Portfolio Investment Asset: Debt Securities: Short-Term: US Virgin Islands data is updated semiannually, averaging 0.000 USD mn from Jun 2015 (Median) to Dec 2023, with 18 observations. The data reached an all-time high of 45.045 USD mn in Jun 2020 and a record low of 0.000 USD mn in Dec 2023. China Outbound Portfolio Investment Asset: Debt Securities: Short-Term: US Virgin Islands data remains active status in CEIC and is reported by State Administration of Foreign Exchange. The data is categorized under China Premium Database’s Balance of Payments – Table CN.JT: CPIS: Outbound Portfolio Investment Asset by Country: Bond: Short-term.

Snapshot img

Debt Collection Software Market Size 2024-2028

The debt collection software market size is forecast to increase by USD 2.31 billion at a CAGR of 8.92% between 2023 and 2028.

The market is experiencing significant growth due to the increasing number of overdue invoices in various industries, particularly in financing and banking organizations. Advanced technologies, such as automated overdue invoice reminders and phone call systems, are being integrated into software to enhance productivity and streamline the money collection process. However, the high cost remains a challenge for smaller organizations. The integration of technology in collection journeys is becoming increasingly important as financial institutions seek to improve their debt recovery processes and reduce the amount of non-performing loans (NPLs) on their books. This market analysis report provides an in-depth examination of market growth factors, including the integration of advanced technologies and the rising need for efficient debt collection and settlement solutions.

What will be the Size of the Debt Collection Software Market During the Forecast Period?

Request Free Sample

The market is a significant segment within the larger financial technology landscape. This market caters to the business-specific needs of organizations seeking to streamline their loan recovery process and improve productivity in debt collection. Deploying modern software solutions can offer economies of scale, enabling organizations to manage their ecosystem more effectively. By implementing these systems, businesses can overcome the complexities associated with managing overdue invoices, borrower data, and online payment collection. Multichannel communication is a crucial aspect, and modern software solutions support various channels, including phone calls, emails, and text messages. This flexibility allows organizations to engage with borrowers through their preferred mode of communication, enhancing the effectiveness of debt recovery efforts. Two primary segments within the market are services and solutions. This services involve outsourcing the entire debt recovery process to third-party providers, while these solutions enable organizations to manage their debt collection in-house.
Whereas, when organizations consider deploying the software, they must weigh the affordability of the solution against the potential return on investment. Training and implementation work are essential considerations, as is ensuring the software integrates with existing core business systems, such as accounting and CRM platforms. Legacy systems can pose challenges during the implementation of new debt collection software. However, with proper planning and execution, these challenges can be mitigated, allowing organizations to reap the benefits of modern applications. Banks and financial organizations are significant users of debt collection software. Effective debt recovery is essential for their core business operations, and these institutions can leverage debt collection software to streamline their loan recovery process, reduce delinquencies, and improve overall productivity. In summary, the market offers organizations a valuable tool for managing their debt collection ecosystem. By addressing the complexities of debt recovery through modern software solutions, businesses can improve their productivity, enhance borrower engagement, and ultimately, more effectively collect outstanding debts.

How is this Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Deployment

  On-premises
  Cloud-based


Industry Application

  Small and medium enterprises
  Large enterprises


Software Component

  Software
  Service


Geography

  North America

    US


  Europe

    UK


  APAC

    China
    Japan


  South America



  Middle East and Africa

By Deployment Insights

The on-premises segment is estimated to witness significant growth during the forecast period.

On-premises software solutions hold a substantial position In the market In the United States, addressing the demands of businesses that value internal control, data security, and customization. These solutions are installed and operated within an organization's premises, granting users extensive autonomy over their processes. Large corporations, particularly those in regulated sectors like finance and healthcare, frequently opt for on-premises software to maintain tight oversight of confidential debtor information and adhere to stringent data protection regulations. For instance, companies such as InterProse Corporation provide on-premises solutions that enable organizations to automa

The statistic shows the national debt of Japan from 2019 to 2021, with projections up until 2029. The amount of Japan's national debt in 2022 amounted to about 9.16 trillion U.S. dollar. In a ranking of debt to GDP per country, Japan is thus currently ranked first.

Japan's economic power

With one of the largest gross domestic products (GDP), Japan is among the largest economies in the world. However, ever since the global financial crisis, Japan's GDP - like many others - has been slightly unstable; Japan even reported a negative GDP growth in comparison to the previous year in 2011 and in 2014. Still, it is estimated that gross domestic product in Japan will continue to thrive over the next decade. One indicator is Japan's inflation rate: Despite the aforementioned economic slumps, Japan has managed to maintain one of the lowest inflation rates in the world, and it also reduced its unemployment rate. Between 2010 and 2013, the unemployment rate in Japan decreased by approximately one percent, and it is expected to drop even lower over the next years.

Recently, Japan has been reporting a trade deficit, meaning the value of its imports exceeds the value of its exports. Most of these imports have come from China and the United States. The trade deficit is one of the causes for in an increase of the national debt. It is estimated that the national debt in relation to the GDP will increase further until 2020.