China

The headline debt series for China uses the Ministry of Finance’s official central and local government debt balance. It does not automatically include the broader debate around hidden local debt or local government financing vehicles (LGFVs).

Why start with official government debt only?

For a public clock intended to be cited, the most defensible first-line series is the balance that appears in Ministry of Finance final accounts. Hidden-debt estimates vary widely across institutions, so they are explained in prose rather than blended into the main number.

Where do LGFVs and hidden debt appear?

This site explains them in the FAQ and glossary, then calls them out on comparison pages as what the official series does not fully capture. The goal is to keep the headline number citable without pretending the debate does not exist.

Can I cite the API directly?

Yes. /api/china/live.json and /api/china/snapshot.json return baseAsOf, citeAs, and per-series meta.