China central government debt
China central government debt outstanding by maturity, instrument, and currency under IMF SDDS.
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| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Central government debt outstanding5 | 43,926.2 | 42,349.8 | 41,231.8 | 40,007.1 | 37,963.8 | 36,055.7 | 34,572.4 | 33,478 | 31,615.9 | 30,514.2 | 30,032.5 | 28,272.4 | 26,582.7 | |
| Domestic debt2 | 43,424.5 | 41,903 | 40,775.3 | 39,603.3 | 37,576.8 | 35,674 | 34,206.4 | 33,124.9 | 31,279 | 30,169.6 | 29,697.9 | 27,936.4 | 26,252.2 | |
| Short-term | 7,035.1 | 7,143.7 | 7,345.7 | 7,772.3 | 7,434 | 7,675.5 | 7,258.8 | 5,686.6 | 5,724.4 | 5,698.7 | 6,290.5 | 5,754.2 | 4,883.3 | |
| Long-term | 36,389.4 | 34,759.3 | 33,429.6 | 31,831 | 30,142.8 | 27,998.5 | 26,947.6 | 27,438.3 | 25,554.6 | 24,470.9 | 23,407.4 | 22,182.2 | 21,368.9 | |
| Foreign debt2 | 501.7 | 446.8 | 456.5 | 403.8 | 387 | 381.7 | 366 | 353.1 | 336.9 | 344.6 | 334.6 | 336 | 330.5 | |
| Short-term | 77.2 | 87.2 | ||||||||||||
| Long-term | 424.5 | 359.6 | 456.5 | 403.8 | 387 | 381.7 | 366 | 353.1 | 336.9 | 344.6 | 334.6 | 336 | 330.5 | |
| By instrument2 | ||||||||||||||
| Bonds | 43,912.9 | 42,335.4 | 41,217.4 | 39,991.7 | 37,947.9 | 36,039.3 | 34,556 | 33,461.9 | 31,599.6 | 30,497.5 | 30,015.8 | 28,255.5 | 26,565.4 | |
| Loans | 13.3 | 14.4 | 14.4 | 15.4 | 15.9 | 16.4 | 16.4 | 16.1 | 16.3 | 16.7 | 16.7 | 16.9 | 17.3 | |
| By currency of issue2 | ||||||||||||||
| Domestic currency | 43,638 | 42,095.4 | 40,970.7 | 39,781.7 | 37,758.3 | 35,834.5 | 34,354.8 | 33,256.3 | 31,394.4 | 30,292.2 | 29,808.5 | 28,030.2 | 26,335.7 | |
| Foreign currency | 288.2 | 254.4 | 261.1 | 225.4 | 205.5 | 221.2 | 217.6 | 221.7 | 221.5 | 222 | 224 | 242.2 | 247 | |
| By residence of the creditor2 | ||||||||||||||
| Domestic creditors | 41,410.1 | 39,950.7 | 38,768.7 | 37,592.6 | 35,470.1 | 33,615.8 | 32,146.9 | 30,954.2 | 29,065.9 | 27,926.7 | 27,406.8 | 25,866 | 24,106.4 | |
| External creditors | 2,516.1 | 2,399.1 | 2,463.1 | 2,414.5 | 2,493.7 | 2,439.9 | 2,425.5 | 2,523.8 | 2,550 | 2,587.5 | 2,625.7 | 2,406.4 | 2,476.3 |
Latest reading
The series on this page is quarterly and runs from Q1 2014 to Q2 2026. Source: Ministry of Finance of the PRC — Central Government Operations and Debt (IMF SDDS).
About this data
China central government debt outstanding by maturity, instrument, and currency under IMF SDDS. Published quarterly by the Ministry of Finance, the series distinguish domestic debt and foreign debt across short-term and long-term maturities. Breakdowns also cover bonds and loans, domestic and foreign currency, and domestic versus external creditors. All figures are reported in billion yuan as quarter-end debt stocks since 2014.
Frequently asked questions
- What is the latest figure for China central government debt?
- Central government debt outstanding stood at 43,926.2 billion yuan in Q2 2026. That is +3.7% from Q1 2026 and +15.7% from a year earlier.
- How far back does the China central government debt data go?
- The series on this page is quarterly and runs from Q1 2014 to Q2 2026. Source: Ministry of Finance of the PRC — Central Government Operations and Debt (IMF SDDS). Every series in the table can be charted over its full history and downloaded as CSV or Excel.
- What does China central government debt measure?
- China central government debt measures the total quarter-end stock of direct sovereign debt liabilities owed by the central government. Disseminated by the Ministry of Finance under the IMF SDDS, it covers liabilities incurred through domestic and foreign borrowing.
- How is China central government debt broken down?
- The dataset classifies central government debt by location into domestic debt and foreign debt, by maturity into short-term and long-term, by instrument into bonds and loans, by domestic versus foreign currency, and by domestic versus external creditors.
- What is the frequency and starting date of this debt data?
- China central government debt is published quarterly by the Ministry of Finance in billion yuan. The historical time series in this table start in 2014.
- How does central government debt differ from local government debt in China?
- China central government debt includes only direct central-level obligations such as treasury bonds and central government loans. It does not include local government bonds or implicit local debt, which are tracked in separate fiscal datasets.