National Debt (% of GDP): China

Analysis# China National Debt (% of GDP) China's national debt reached 102.3% of GDP in 2026, marking an all-time peak and representing a dramatic 378% increase since 1995, when debt stood at just 20.4% of GDP. The current level nearly quintuples the lowest point recorded three decades ago, reflecting substantial shifts in China's fiscal dynamics over the past three decades. The acceleration became pronounced after 2017, when debt was 53.9% of GDP. Between 2017 and 2026, the ratio nearly doubled, with particularly steep annual increases from 2023 onward: 82% in 2023, 88.3% in 2024, 96.3% in 2025, and reaching 102.3% in 2026. This rapid escalation suggests mounting fiscal pressures that warrant continued monitoring of China's debt sustainability trajectory.