The current round of revisions is the result of the census uncovering previously unrecorded activity. China is tracking to 100 trillion yuan in GDP in 2019 and should have 108-110 trillion yuan in GDP in 2020.
There is real economic growth and activity but it can overstated and even understated at times. The past few years are probably seeing overstated economic figures. However, there is growth in power generation, cities, industry, technological research and more.
China only has about $1.6 trillion in foreign debt. Total China debt is about $40 trillion. China's GDP will be around $15.3 trillion in 2020.
China's economic miracle has had a lot of real productivity growth over the last 50 years.
Some China bears have said for decades that China will have some form of debt or economic crisis or economic depression. China's corporate and government debt is about 305% of GDP. The central government portion is about 60% of GDP. Japan has a government debt that is over 220% of GDP. Japan's government debit is about $12 trillion.