财政部：超六成融资平台实现退出

Core Viewpoint - The article discusses the achievements and future plans of China's fiscal reform and development during the "14th Five-Year Plan" period, emphasizing the importance of debt management and economic development as interlinked goals [1][2]. Group 1: Debt Management Achievements - As of August 2023, China has issued 4 trillion yuan of the 6 trillion yuan special debt limit introduced in the last quarter of the previous year, with an average interest cost reduction of over 2.5 percentage points, saving over 450 billion yuan in interest payments [1]. - In 2023, a total of 2.78 trillion yuan of new local government special bonds have been issued, with 800 billion yuan allocated specifically to support local debt management [1]. Group 2: Economic Development and Debt Management - The dual approach of debt management and economic development has enhanced local development momentum, allowing local governments to allocate more resources to address economic challenges [2]. - Over 60% of financing platforms are expected to exit by June 2025, indicating a significant reduction in hidden debts [2]. - The overall government debt level is reported at 92.6 trillion yuan, with a debt-to-GDP ratio of 68.7%, which is considered manageable compared to G20 and G7 averages [2]. Group 3: Future Plans for Debt Management - The government plans to continue implementing debt reduction measures, including early allocation of new debt limits and multi-faceted strategies to resolve hidden debts [3]. - There will be a focus on strict management of local government debt limits and enhancing transparency in debt information [3]. - The strategy includes optimizing bond issuance to meet funding needs for major projects while improving the efficiency of bond fund usage [3]. - Risk monitoring and prevention measures will be strengthened to mitigate potential debt repayment risks [3].