金观平：坚决遏制新增隐性债务

Core Viewpoint - The Ministry of Finance has exposed six cases of accountability regarding hidden debts, emphasizing a strict approach to prevent the increase of new hidden debts and implement a "lifetime accountability" system [1] Group 1: Government Debt Management - The central government is focused on preventing and resolving local government hidden debt risks, with a recent Politburo meeting highlighting the need to manage these risks actively and prohibit new hidden debts [1] - To address existing debt, measures such as allocating fiscal funds, reducing expenditures, and revitalizing existing assets are being implemented. A policy was introduced to increase the local government debt limit by 6 trillion yuan to convert hidden debts into visible ones, alleviating local debt pressure [2] - Despite these efforts, some regions continue to incur new hidden debts through illegal activities, such as borrowing from state-owned enterprises for infrastructure projects, which complicates the risk management process [2] Group 2: Accountability and Oversight - Recent accountability cases show that hidden debts cannot remain concealed, and leaders involved will face consequences, even if they are no longer in their positions, under the lifetime accountability system [3] - Local leaders are urged to adopt a risk-aware mindset and implement strong measures to curb the increase of hidden debts while managing existing debt effectively [3] - The issuance of local government bonds has significantly increased, with recent measures aimed at expanding the scope of special bonds and optimizing project management to enhance the positive role of local government financing [3] Group 3: Regulatory Environment - The prevention and resolution of local government hidden debt risks are crucial for overall development and safety, necessitating strict regulatory measures and a zero-tolerance approach towards new hidden debts [3] - Comprehensive monitoring, enhanced budget management, and inter-departmental punitive mechanisms are being established to maintain a high-pressure regulatory environment and effectively manage hidden debt risks [3]