Currently, the Chinese market is highly focusing on government debts. However, the non-financial corporate debts are enormous and twice higher than the government debts. The development of Chinese enterprises relies on debt expansion to a certain extent. ANBOUND think tank scholars believe that the enterprises may face greater de-leveraging pressure compared to the government in the future economic transformation. If macroeconomic does not pick up in the short term then the process of Chinese corporate debt adjustment will take a long time and will be very painful.