China's debt in 2023 will exceed 70 trillion

China's State Department's first government debt report announced that at the end of 2023, China's Communist regime's total debt had increased to 70.77 trillion.

The 11th session of the Standing Committee of China's 14th National People's Congress was held in Beijing from September 10 to September 13. At the September 10 meeting, Chinese Finance Minister Lan Fuan announced the "2023 Public Debt Management Report". According to the report, by the end of 2023, the Chinese regime's statutory debt will exceed 70 trillion yuan.

According to the news of the Beijing newspaper on September 14, after China perfected the reporting system of government debt management, the Standing Committee of the Chinese People's Congress will publish the report on the government debt management of the State Affairs Court for the first time.

According to the report, by the end of 2023, the legal government debt balance of the Chinese regime will be 70.77 trillion yuan, of which the national debt balance will be 30.03 trillion yuan, the domestic debt balance will be 29.70 trillion yuan, and the external debt balance will be 334.6 billion yuan. The local government's debt balance is 40.74 trillion yuan, which is higher than the central government's debt.

Observers say that China is facing international pressure and sanctions due to the brutal genocide crimes it is carrying out in East Turkistan, and with the punishment of Chinese companies and the deterioration of China's recent policies, foreign companies and even Chinese rich people have gradually shifted their investments from China. These reasons have greatly affected the Chinese economy. They are also reporting that their debts are increasing.