Core Viewpoint - The Ministry of Finance has publicly reported six typical cases of local government hidden debt accountability, revealing a total increase of over 140 billion yuan in hidden debts, with Xiamen, Fujian, accounting for the largest share at 68.396 billion yuan [1][2]. Group 1: Hidden Debt Overview - Hidden debt refers to debts incurred by local governments outside the legal debt budget, which may involve direct or indirect repayment using fiscal funds and illegal guarantees [1]. - The scale and growth rate of hidden debt often exceed that of explicit debt, typically associated with violations such as illegal guarantees and disguised borrowing [1][3]. Group 2: Case Details - In Xiamen, from July 2020 to June 2023, the Xiamen Urban Construction Development Investment Co. funded seven urban renewal projects, resulting in hidden debt of 57.897 billion yuan [2]. - Additionally, the Xiamen Torch Tongxiang High-tech City Construction Investment Co. incurred 440 million yuan in hidden debt for a project initiated in November 2020 [2]. - The Xiamen Urban Construction Development Investment Co. and Xiamen Tong'an Guotou Real Estate Development Co. also created 10.059 billion yuan in hidden debt for 32 resettlement housing projects since October 2019 [2]. Group 3: Accountability and Measures - The reported cases highlight deviations in the performance outlook of local leaders and a lack of strict discipline in implementing central government policies, which severely impacts the effectiveness of hidden debt risk prevention [3]. - The Ministry of Finance emphasizes the need for local governments to learn from these cases, implement central government directives, and treat the prevention of hidden debt risks as a critical political task [3]. - A commitment to strengthen accountability measures and enhance the supervision of hidden debt issues has been reiterated, with a focus on discovering and addressing violations promptly [3].
财政部通报六起隐性债问责案例,有地方新增隐性债超六百亿元
Nan Fang Du Shi Bao·2025-08-04 12:03