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.

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.

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.

China external debt for 2022 was 2.389 trillion US dollars, a 11.6% decline from 2021.

<ul style='margin-top:20px;'>

<li>China external debt for 2021 was <strong>2.702 trillion US dollars</strong>, a <strong>16.16% increase</strong> from 2020.</li>
<li>China external debt for 2020 was <strong>2.326 trillion US dollars</strong>, a <strong>10.03% increase</strong> from 2019.</li>
<li>China external debt for 2019 was <strong>2.114 trillion US dollars</strong>, a <strong>7.78% increase</strong> from 2018.</li>
</ul>Total external debt is debt owed to nonresidents repayable in currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. Data are in current U.S. dollars.

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 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.

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

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.

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 June of 2025.

Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$) in China was reported at 54170837199 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Key information about China External Debt

• China External Debt reached 2,516.9 USD bn in Sep 2024, compared with 2,545.3 USD bn in the previous quarter.
• China External Debt: USD mn data is updated quarterly, available from Jun 2003 to Sep 2024.
• 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 147.6 USD bn in Sep 2024.
• Foreign Direct Investment (FDI) fell by 8.3 USD bn in Sep 2024.
• China Direct Investment Abroad expanded by 34.5 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 24.0 USD bn in Sep 2024.
• The country's Nominal GDP was reported at 4,166.8 USD bn in Mar 2023.

Discover how China's control over rare earths and U.S. debt could impact global trade dynamics amid rising tensions with the United States.

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 116 billion U.S. dollars to over 11 trillion U.S. dollars. The largest increase occurred between 2019 and 2020, when it went from 5.6 trillion to 7.4 trillion U.S. dollars.

External debt stocks, total (DOD, current US$) in China was reported at 2420210835504 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - External debt stocks, total (DOD, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Present value of external debt (current US$) in China was reported at 488114430988 USD in 2023, 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 June of 2025.

CN: External Debt: DIS: PPG: Official Creditors data was reported at 133.137 USD mn in 2031. This records a decrease from the previous number of 450.988 USD mn for 2030. CN: External Debt: DIS: PPG: Official Creditors data is updated yearly, averaging 3.279 USD bn from Dec 1981 (Median) to 2031, with 51 observations. The data reached an all-time high of 9.082 USD bn in 1995 and a record low of 133.137 USD mn in 2031. CN: External Debt: DIS: PPG: Official 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.IDS: External Debt: Disbursements and Interest Payment: Annual. Public and publicly guaranteed debt from official creditors includes loans from international organizations (multilateral loans) and loans from governments (bilateral loans). Loans from international organization 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. Government loans include 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.

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.

CN: External Debt: DIS: PPG: Multilateral 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: Multilateral Concessional data is updated yearly, averaging 72.126 USD mn from Dec 1981 (Median) to 2022, with 42 observations. The data reached an all-time high of 936.487 USD mn in 1993 and a record low of 0.000 USD mn in 2022. CN: External Debt: DIS: PPG: Multilateral 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. Public and publicly guaranteed 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. 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.

Over the last decade, the debt of nonfinancial corporations in China have grown the fastest of all major economies, increasing from 4.38 trillion U.S. dollars in 2008 to 27.7 trillion U.S. dollars in 2022. As a result, Chinese corporate debt now exceeds U.S. corporate debt, which stood at nearly 20 trillion U.S. dollars in 2022.