Paramilitary policemen patrol in front of the People’s Bank of China, the central bank of China, in Beijing in a file photo. Greg Baker /AFP/Getty ImagesCommentaryBeijing has long maintained that government debt risks are overall safe and controllable. According to the official data disclosed by China’s Ministry of Finance, China’s government debt balance stood at about 96.05 trillion yuan (about $14 trillion) at the end of 2025, including roughly 41.23 trillion yuan ($6 trillion) in central government debt and 54.82 trillion yuan ($8 trillion) in local government debt.
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