财政部部长表态：严肃追责违规举债、虚假化债

Core Points - The Ministry of Finance in China has established a new Debt Management Department to oversee domestic debt management policies and regulations, including monitoring government debt and preventing hidden debt risks [1][3] - The Minister of Finance, Lan Fo'an, emphasized a strict discipline against the creation of new hidden debts and aims to implement a long-term regulatory system for local government debt [1] - This initiative is part of China's broader strategy to address local government financing pressures and stabilize economic growth amid a slowdown [3] Summary by Category Debt Management - The newly formed Debt Management Department will draft and execute government domestic debt management policies and plans [1] - Responsibilities include setting limits on national and local government debt balances and enhancing monitoring and regulation of government debt [1] Regulatory Measures - The Ministry will enforce strict accountability for violations related to illegal borrowing and false debt resolution [1] - A unified long-term regulatory system for local government debt is being established to prevent future debt accumulation [1] Economic Context - Last year, China introduced a debt scheme totaling 10 trillion yuan (approximately 1.83 trillion SGD) to alleviate financing pressures on local governments and support weak economic growth [3] - The focus remains on resolving debts accumulated through local financing platforms, referred to as hidden debts [3]