The national debt[note 1] (or government debt) of the People's Republic of China is the total amount of money owed by the central government, local governments, government branches and state organizations of China. Standard & Poor's Global Ratings has stated Chinese local governments may have an additional CN¥ 40 trillion ($5.8 trillion) in off-balance sheet debt.[1] Debt owed by state-owned industrial firms is another 74% of GDP according to the International Monetary Fund.[2] The three government-owned banks (China Development Bank, Agricultural Development Bank of China and Exim Bank of China) owe a further 29% of GDP.[3] China's debt level increased during the 2010s,[4][5][6] continuing as an economic issue into the 2020s.[7][8]
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^"China May Had $40.6 Trillion Hidden Debt, S&P Says". Bloomberg News.
^"Credit Booms—Is China Different?". IMF. Retrieved 2021-02-03.
^Orlik, Thomas; Orlik, Tom (2020-05-15). China: The Bubble That Never Pops. Oxford University Press. p. 21. ISBN 978-0-19-087740-8.
^Jetin Duceux, Alice. "An overview of Chinese Debt (Part 1)". CADTM.
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