Core Viewpoint - The Chinese government is committed to a "zero tolerance" high-pressure regulatory approach to manage local government debt, aiming to eliminate new hidden debts while ensuring sustainable economic development during the 14th Five-Year Plan period [1][2] Group 1: Debt Management Strategies - The government plans to reduce existing hidden debts by implementing a series of debt resolution measures and pre-allocating part of the 2026 new local government debt limit [1] - A strict limit on local government debt will be enforced to ensure that borrowing is manageable and sustainable, with a focus on lifecycle management of special bonds [1] - The government aims to enhance the effectiveness of bond issuance by scientifically arranging the scale and structure of bonds, ensuring funds meet the needs of major projects and key areas [1] Group 2: Risk Management - There will be a shift from reactive measures to proactive risk monitoring and prevention, with a focus on establishing a special bond repayment reserve management mechanism to mitigate repayment risks [2] - The government will maintain a high-pressure regulatory stance to ensure accountability in borrowing practices and to prevent the emergence of new hidden debts [2]
财政部:提前下达部分2026年新增地方政府债务限额,多措并举化解存量隐性债务
Di Yi Cai Jing·2025-09-12 08:16