Yes the numbers are big, but the ratios place China as a mid range debtor nation:
Before I suggested that China was becoming the new Japan, I would like to see their bank capital ratios.
What does a potential Chinese debt crisis mean for the price of gold?
The plus side - if this was a genuine concerns about the Chinese banking system then Chinese might increase their investment in gold, pushing up demand and the PoG.
The minusside - a significant amount of Chinese bank debt has been used to fund gold purchases. In the event of general asset collapse and the calling of bank loans, liquid assets (like gold) will be the first sold, and a wave of bullion would hit the market forcing the PoG down.