Core Viewpoint - The article discusses the recent fiscal policy measures introduced by the Chinese government, particularly the allocation of 500 billion yuan to local governments to address debt and support economic growth amid challenging domestic and international conditions [3][4]. Group 1: Fiscal Policy Measures - The Ministry of Finance announced the allocation of 500 billion yuan from the local government debt limit to support local governments in the fourth quarter [3]. - The local government debt balance was reported at 53.2484 trillion yuan, with a limit of 57.9874 trillion yuan, indicating a remaining debt limit of 4.73903 trillion yuan [3]. - This allocation is part of a broader strategy to enhance local government financial capacity and facilitate the resolution of existing debts and overdue payments to enterprises [4]. Group 2: Comparison with Previous Year - Compared to the previous year, the current allocation of 500 billion yuan represents an increase of 100 billion yuan [4]. - The scope of the allocation has expanded to include support for major economic provinces and projects that meet specific criteria, aiming to boost effective investment [4]. Group 3: Debt Issuance and Financial Performance - As of the end of September, local governments had issued approximately 4.35 trillion yuan in new bonds, achieving an issuance rate of 83% of the planned 5.2 trillion yuan for the year [5]. - The fiscal revenue for local governments has shown slow growth, with general public budget revenue increasing by 1.8% to 93.039 billion yuan, while government fund budget revenue decreased by 0.6% to 27.441 billion yuan [5].

Core Viewpoint - The Ministry of Finance has allocated an additional 500 billion yuan to local governments from the debt balance limit, aimed at enhancing local fiscal capacity and supporting economic recovery amid complex domestic and international conditions [1][2]. Group 1: Financial Policy and Debt Management - The allocation of 500 billion yuan is part of a broader strategy to manage local government debt, with the total debt balance as of August reaching 53.2484 trillion yuan against a limit of 57.9874 trillion yuan, indicating a remaining balance limit of 4.73903 trillion yuan [1]. - This move allows local governments to issue an additional 500 billion yuan in government bonds in the fourth quarter, which will be used to bolster financial resources [1][2]. - The current year's debt issuance plan includes a total of 5.2 trillion yuan, with approximately 4.35 trillion yuan already issued by the end of September, achieving an 83% completion rate [2]. Group 2: Economic Impact and Objectives - The additional funds will not only support local governments in addressing existing debts and overdue payments to enterprises but also facilitate project construction in economically significant provinces [2]. - The Ministry of Finance aims to expedite the use of this debt balance limit to reinforce the positive trend in economic recovery and assist local governments in meeting their economic and social development targets for the year [2]. - Local fiscal revenue has shown slow growth, with general public budget revenue increasing by 1.8% to 930.39 billion yuan, while government fund revenue has decreased by 0.6% to 27.441 billion yuan in the first three quarters [3].

（文章来源：中国证券报） 财政部预算司一级巡视员、政府债务研究和评估中心主任李大伟10月17日在财政部新闻发布会上表示， 近期，为贯彻落实党中央国务院决策部署，结合当前财政经济运行情况，中央财政从地方政府债务结存 限额中安排5000亿元下达地方。与去年相比，此次安排结存限额有两方面特点：一是力度有增加，总规 模较上年增加1000亿元；二是范围有拓展，今年的5000亿元除用于补充地方政府综合财力，支持地方化 解存量政府投资项目债务，消化政府拖欠企业账款外，还安排额度用于经济大省符合条件的项目建设， 精准支持扩大有效投资，更好发挥经济大省挑大梁的作用。李大伟表示，目前，各地正在抓紧履行有关 程序，力争早发行、早使用、早见效。这部分结存限额的使用有助于巩固经济回升向好态势，有力支持 地方完成今年经济社会发展目标任务。 ...