中国财政部：地方隐性债务“置换政策”效果逐步显现

Group 1 - The Chinese government has arranged a debt replacement policy with a limit of 6 trillion yuan to replace local government hidden debts, which has shown gradual effectiveness [1] - The issuance of low-interest local government bonds has significantly reduced interest expenses and repayment pressures associated with high-interest, short-term hidden debts [1] - The implementation of the replacement policy has released substantial financial resources and time for local governments, allowing them to focus on economic development and maintaining essential services [1] Group 2 - In the first half of the year, the issuance of new local government special bonds reached 2.16 trillion yuan, a year-on-year increase of 45% [2] - The management of special bond issuance has shifted from a "positive list" to a "negative list," broadening the scope of eligible projects for funding [2] - The range of projects eligible for special bonds as project capital has expanded from 17 to 22 industries, with 191.7 billion yuan issued for project capital in the first half of the year, a 16% increase year-on-year [2]