Core Viewpoint - The article discusses measures to alleviate local government debt pressure and reduce hidden debt risks by potentially issuing part of next year's replacement bonds before the end of this year, which could stimulate economic growth and improve market confidence [1] Group 1: Government Debt Management - Zhang Yiqun suggests that incorporating part of next year's replacement bonds into this year's issuance could significantly ease local fiscal pressures and send positive signals for economic stability and growth [1] - Finance Minister Lan Fan'an announced on September 12 that the government will continue to implement a series of debt resolution measures, including the early allocation of part of the 2026 new local government debt limit [1] - Analyst Feng Lin indicates that "early use of debt limits" may refer to issuing the 2026 new limits in the fourth quarter or early next year, with a higher likelihood of early issuance in the first quarter of next year [1] Group 2: Economic Implications - If the issuance of replacement bonds is advanced, it would allow local governments to free up more funds for development and construction, thereby enhancing their capacity for infrastructure investment and stabilizing economic performance in the fourth quarter [1]