时报观察 完善机制强化协同 政府债务治理升维正当时

Core Viewpoint - The establishment of the Debt Management Department by the Ministry of Finance signifies a dedicated approach to managing government debt, addressing the increasing scale of debt and the associated risks in China [1][2] Group 1: Government Debt Management - The new Debt Management Department will unify the management of various government debt instruments, including national bonds, special bonds, and local government bonds, enhancing policy coordination [1] - As of the end of 2024, China's total government debt is projected to reach 82.1 trillion yuan, with local government hidden debt at 10.5 trillion yuan, indicating a significant scale of government liabilities [1] - The establishment of a specialized agency reflects the need for improved oversight and management of government debt, particularly in light of rising debt levels and the challenges posed by insufficient effective demand in the economy [2] Group 2: Debt Management Mechanism - The current debt management mechanism is not fully developed, leading to the emergence of new hidden debts and false debt reduction practices in some localities [2] - The Ministry of Finance aims to create a long-term mechanism for government debt management that aligns with high-quality development, focusing on reducing hidden local government debt and reforming financing platforms [2] - The Debt Management Department will operate with lower costs, greater transparency, and a more stable rhythm to enhance the government debt mechanism [2]