我国政府负债率为68.7%，低于G20、G7国家

Core Insights - The press conference held by the State Council Information Office focused on the achievements of fiscal reform during the "14th Five-Year Plan" period [1] Group 1: Fiscal Measures and Debt Management - In the fourth quarter of last year, a comprehensive debt reduction initiative was launched, which has been effectively implemented [3] - As of the end of August this year, a one-time increase of 6 trillion yuan in special debt limits has resulted in the issuance of 4 trillion yuan [3] - The average interest cost of debt has decreased by over 2.5 percentage points, leading to savings of over 450 billion yuan in interest payments [3] - This year, a total of 2.78 trillion yuan in new local government special bonds have been issued, with 800 billion yuan allocated to support local debt reduction [3] Group 2: Government Debt Overview - By the end of 2024, the total government debt in China is projected to reach 92.6 trillion yuan, comprising 34.6 trillion yuan in national debt, 47.5 trillion yuan in local government legal debt, and 10.5 trillion yuan in local government hidden debt [3] - The government debt-to-GDP ratio stands at 68.7%, which is considered reasonable compared to the G20 average of 118.2% and the G7 average of 123.2% [3] - The government debt is backed by a significant amount of high-quality assets, indicating that the overall risk is manageable [3]