This only would matter if they took out USD or other foreign debt. RMB debt matters to no one, just government line items. Most Chinese citizens don't put much money in banks and most of their investments are in the overvalued real estate. China will just quietly deal with Evergrande and the other developers by cooking up numbers that will be obvious bullshit, but what does it matter?China has another debt problem on its hands. The nation’s hidden local government debt has swelled to more than half the size of the Chinese economy, according to Goldman Sachs.