Interest plus amortisation of the private non-financial sector as a share of income. The BIS series for China runs from 1999, when it stood at 10.1 %; the latest print, 19.1 % in Q1 2026, is the highest in the record.
Threshold source: worldstat.us construction after Drehmann and Juselius (2012), BIS. How thresholds are chosen
Assumes a standard maturity for all debt.