At present, China's economy is improving steadily, and the probability of credit risk is almost zero. It is not a problem to get back the principal and interest at maturity. Therefore, national debt is backed by a country's economic strength, generally speaking, there is no risk.
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It can be seen that before the economic crisis and other turmoil, the price of long-term treasury bonds rose and the yield fell, which proved that many people in the world regarded treasury bonds as safe-haven assets, especially treasury bonds. Because it is a global hegemonic country, it has the largest economy and the strongest strength, and its national debt is also very safe.
However, even so, buying government bonds still has certain risks, because the yield of government bonds is relatively low, although it has certain advantages compared with ordinary interest rates, and the difference will not be too great. Investing in treasury bonds, especially long-term treasury bonds, may be overwhelmed by inflation, resulting in negative real returns.
In addition, there is a risk of default in investing in the national debt of some countries. For example, Argentina's national debt has been declared to be in default, and this debtor country will not pay it back at all. This is definitely a loss for international investors. Some countries, such as Russia, have announced the extension of the default period of our national debt, which means that it will take some time for me to pay you back this debt, which is also a certain loss for investors.