China Short-term Debt
Short-term debt as % of total external debt DT.DOD.DSTC.ZS
China's short-term debt was 53.20% in 2025, ranked 1st globally. This represents a 1.4% decrease from 2024. Data from World Bank, covering 1981–2025.
Overview
China's short-term debt stood at 53.20% in 2025, a decline of +0.77% from 2024. Based on recent trends, this figure is projected to reach 53.20% by 2025. China ranked 1st globally.
China’s short‑term debt rose from a zero base in 1981 to a record 73.17 in 2011, reflecting rapid financial deepening as the economy expanded and external borrowing grew. By 2025 the stock stood at 53.20, placing China first globally among 45 years of World Bank coverage and still well above the level of its nearest peer, Mauritius, which recorded 52.77 in the same year. The sharp ascent after the 1980s was driven by liberalised capital markets, heightened trade integration and policy shifts that encouraged corporate and sovereign short‑term financing. Although the 2025 figure marks a decline from the 2011 peak, the level remains markedly higher than the early‑stage trough and underscores a persistent reliance on short‑term funding sources. Future trajectories will hinge on reforms that lengthen debt maturities, strengthen domestic financing channels and mitigate external vulnerability, which could moderate the upward pressure on short‑term liabilities.
Data & projection
| Year | Short-term Debt | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 54.01% | - | - |
| 2026* trend | 53.60% | - | - |
| 2025* trend | 53.20% | - | - |
| 2025 | 53.20% | −0.77% | #1 |
| 2024 | 53.97% | +1.37% | #116 |
| 2023 | 52.60% | +2.60% | #118 |
| 2022 | 50.00% | −0.18% | #120 |
| 2021 | 50.18% | −2.96% | #119 |
| 2020 | 53.14% | −3.87% | #120 |
| 2019 | 57.01% | −5.13% | #119 |
| 2018 | 62.14% | +1.90% | #120 |
| 2017 | 60.24% | +3.56% | #119 |
| 2016 | 56.68% | −4.97% | #120 |
| 2015 | 61.65% | −8.05% | #120 |
| 2014 | 69.70% | −3.05% | #118 |
| 2013 | 72.75% | +3.76% | #117 |
| 2012 | 68.99% | −4.18% | #117 |
| 2011 | 73.17% | +4.19% | #118 |
Detected Pattern
Analysis
China matched the Export Boom Cycle pattern in 2013. Historically, 71% of countries showing this pattern (546 out of 768) saw short-term debt improve within 24 months. View full analysis →
Frequently Asked Questions
China's short-term debt was 53.20% in 2025. Ranked 1st globally. This represents a 1.4% decrease from the previous year.
China's short-term debt peaked at 73.17% in 2011.
The lowest short-term debt in China was 0.00% in 1981.
China ranks 1st globally in short-term debt as of 2025.
The World Bank indicator code is DT.DOD.DSTC.ZS. Data sourced from World Bank.
China's short-term debt is projected to reach 53.20% by 2025 based on trend extrapolation.
The short-term debt of China in 2025 was 53.20%. This ranks 1st in the world.
Cite this page
@misc{historysaid_china_short-term-debt,
title = {China Short-term Debt},
url = {https://historysaid.com/china/short-term-debt/},
publisher = {HistorySaid},
year = {2026}
}