Debt is an organic component of the macroeconomy, and the sound development of the macroeconomy cannot be achieved without proper debt leverages. Nevertheless, the macroeconomy may be jeopardized when the total debt volume becomes too large. Among previous studies, there are few on the quantitative relationship between debt and economic growth. Hence arguments concerning debt lack necessary underpinnings, and debt-related policies lack theoretical basis. For this reason, we focused our study on debt problems in China and attempted to reveal the relationship between debt and economic growth by analyzing systematic and complete debt data.