财政部新设债务管理司

Core Viewpoint - The establishment of the Debt Management Department within the Ministry of Finance aims to enhance government debt management mechanisms, ensuring alignment with high-quality development and risk mitigation in local government debt [4][5]. Group 1: Organizational Structure - The Debt Management Department is now listed as a department of the Ministry of Finance, with Li Dawei as the director and Qu Fuguo and Zhao Zeyong as deputy directors [1][6]. - The department consists of six divisions: Comprehensive Division, Central Debt Division, Local Debt Division I, Local Debt Division II, Issuance and Payment Division, and Monitoring Management Division [1]. Group 2: Responsibilities and Goals - The main responsibilities of the Debt Management Department include formulating and implementing domestic debt management policies, managing both central and local government debts, and enhancing monitoring to prevent hidden debt risks [4][5]. - The goal is to establish a long-term debt management mechanism that aligns with high-quality development, which is essential for mitigating local government debt risks and achieving the objectives of the "14th Five-Year Plan" [5]. Group 3: Current Debt Situation - As of the end of 2024, China's total government debt 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, resulting in a government debt ratio of 68.7% [5]. - The overall debt ratio is considered reasonable, with manageable risks, as it corresponds to a significant amount of quality assets [5]. Group 4: Policy Implementation - Li Dawei announced that the Ministry of Finance will continue to allocate new local government debt limits for 2026 in advance to support key projects and ensure economic recovery [7]. - A total of 500 billion yuan will be allocated from the existing local government debt limits to enhance local financial capacity and support project construction in economically significant provinces [7][8].