每经记者｜周程程 每经编辑｜陈星 3月5日，国务院联防联控机制就有效应对新冠肺炎疫情影响加强地方财政"三保"工作有关情况举行发布会。 对于财政部"三保"责任的划分，财政部副部长许宏才表示，"三保"工作关系基层政府履职尽责和人民群众的切身利益，财政部不断建立健全县级基本财力保 障机制，强化"三保"工作的责任担当。地方的"三保"现在是由各级政府来共同努力完成，主要是遵循县级为主、省级兜底的原则，中央财政也给予积极支 持，建立了县级财力基本保障机制，另外还通过均衡性转移支付给予倾斜和安排。 许宏才表示，上述讲到的都是各级政府和财政部门，实际上各个部门和单位也同样要负起责任，各个部门、各个单位要统筹好本部门或者本单位的资金，要 按照规定保障用于本单位行政事业单位人员的工资发放和正常运转，包括这次疫情防控的支出。 "有一些支出遇到的是突发情况，预算里面并不一定安排了，该调结构的时候就要果断、及时调整支出结构，保障重点支出的需要。"许宏才说。 对县级来说，许宏才指出，要全面落实好保障责任，要提高认识，牢固树立"三保"与疫情防控及经济恢复并重的政策导向，充分认识巩固基层"三保"在确保 社会稳定、维护市场环境、提振市场信心方 ...

Group 1: Overview of "Hidden Debt Accountability" - Since the new round of hidden debt resolution began in 2022, the Ministry of Finance has reported 44 cases of "hidden debt accountability" [12] - The accountability cases reveal increased regulatory efforts on local hidden debts, with a focus on project-level issues and deeper engagement at the district and county levels [2] Group 2: Changes in 2025 Accountability Cases - The 2025 accountability cases emphasize grassroots government actions and reflect a "penetrating" regulatory approach, with 12 cases reported in two announcements [23] - New hidden debts in 2025 are primarily linked to project construction, including violations related to government and social capital cooperation projects and high-standard farmland improvement projects [27] Group 3: Regional Distribution and Trends - The 44 accountability cases are distributed across 28 provinces, with a higher frequency in lower-tier cities in central and western regions like Jiangxi, Henan, and Anhui [3] - Notable cities such as Xi'an, Chengdu, and Tianjin have also been reported, indicating a broader scope of accountability [21] Group 4: Financial Implications and Reform Signals - The changes in accountability cases signal a need for reform in local fiscal relations, as local governments face pressure on "three guarantees" and funding shortages for construction projects [5] - The emphasis on high-quality construction and strict monitoring of new hidden debts reflects the government's commitment to preventing financial risks [38]

Core Viewpoint - The article discusses the recent developments in the management of local government hidden debts in China, highlighting the increased accountability measures and the focus on grassroots government actions and project-related hidden debts [2][4][6]. Summary by Sections Hidden Debt Accountability Cases - Since the initiation of the new round of hidden debt resolution work in 2022, the Ministry of Finance has reported 44 typical cases of "hidden debt accountability," indicating a strengthened regulatory approach and deeper focus on local projects [2][12]. - The accountability cases are primarily concentrated in low-tier cities in central and western regions, with significant occurrences in provinces like Jiangxi, Henan, and Anhui [3][15]. Changes in 2025 Accountability Cases - The 2025 accountability cases show a shift towards focusing on grassroots government behavior and project construction-related hidden debts, reflecting a "penetrating" regulatory approach [4][17]. - The accountability cases in 2025 emphasize the actions of city, district, and county-level governments, with specific instances of violations related to project financing and management [20][23]. New Trends in Hidden Debt Allocation - New hidden debt allocations in 2025 include funds for repaying loans for shantytown renovation and high-standard farmland improvement projects, indicating a shift in the types of projects being financed through hidden debts [5][23]. - The trend shows that local governments are increasingly using hidden debts to cover construction costs and repay existing debts, reflecting financial pressures at the grassroots level [7][38]. Reform Signals Behind Hidden Debt Accountability - The changes in hidden debt accountability cases signal a heightened emphasis on high-quality construction and strict regulation of new hidden debts, as highlighted in recent central government meetings [6][31]. - The accountability measures also point to the need for reform in the fiscal relationship between central and local governments, particularly in addressing the financial pressures faced by local governments [7][38].