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Note is undoubtedly the sovereign debt situation. Sovereign balance sheet sovereign assets are assets owned or controlled by the government, including other available resources; sovereign debt is the direct and implicit government guarantees of liabilities arising from liabilities. The report shows that from 2000 to 2014, the Chinese sovereign assets from 35.9 trillion yuan to 227.3 trillion yuan, an increase of 191.4 trillion yuan, an average annual increase of 13.7 trillion yuan. In these 14 years, the state-owned enterprise assets, particularly non-financial state-owned enterprise assets, land and resources as well as the growth of the assets of the most rapidly. Among them, the state-owned enterprise assets grew 126.4 trillion yuan, an average annual growth of 9 trillion yuan, contribution to the growth of sovereign assets was 66%. Over the same period, China's sovereign debt from 21.4 trillion yuan to 124 trillion yuan, an increase of 102.6 trillion yuan, an average annual increase of 7.3 trillion yuan. Among them, the debt of state-owned enterprises grew 55.2 trillion yuan, an average annual increase of 3.9 trillion yuan; local government debt grew 26.4 trillion yuan, an average annual increase of 1.9 trillion yuan. State-owned enterprises and local government debt to sovereign debt liabilities growth rate of 53.8% and 25.7%, respectively. The report notes that, on the basis of whether it is based on a narrow or wide caliber caliber judge China's sovereignty net assets are positive, which indicates that the Chinese government has enough assets to cover its sovereign sovereign debt. Thus, in the longer term, China's sovereign debt crisis should be a small probability event. Further reports on the basis of estimates of inhabitants, non-financial corporations, governments and financial institutions to leverage the four sub-sectors on the total sum obtained leverage the whole society. The end of 2014, China real sector debt (excluding financial institutions) to 138.33 trillion yuan, the real sector leverage of 217.3%. The end of 2014 China's economy as a whole (including financial institutions) size of the debt was 150.03 trillion yuan, total leverage of 235.7%. Local government net assets of 78 trillion government debt, local debt risks are still most concerned about the content. By the end of 2014, local governments 108.2 trillion yuan total assets, total liabilities of 30.28 trillion yuan, net assets of 77.92 trillion yuan. Among them, a larger proportion of the liability side of the two were to borrow money and bond financing, and local financing platform related to bank loans, the city voted bonds of trust infrastructure and still account for a large proportion.