Group 1 - The central government has allocated 500 billion yuan from local government debt limits to support local governments, which is expected to inject new momentum into economic development and help achieve this year's economic and social development goals [1] - The total scale of government bonds this year has reached 11.86 trillion yuan, an increase of 2.9 trillion yuan compared to last year, indicating a more proactive fiscal policy [1] - The issuance of 8 trillion yuan in ultra-long special bonds will support 1,459 "hard investment" projects across various sectors, including new urbanization and social welfare [1] Group 2 - The implementation of a more proactive fiscal policy is expected to continue next year, with a focus on maintaining necessary spending intensity through various fiscal tools [2] - The "14th Five-Year Plan" suggests the establishment of a long-term mechanism for government debt management that aligns with high-quality development [2] - There is a need to optimize the structure of government debt to enhance fiscal sustainability while ensuring effective management of government bonds [2] Group 3 - Strengthening the management of bond issuance and usage is crucial for improving the effectiveness of government bonds, with a focus on preventing inefficient investments [3] - The ongoing efforts to mitigate hidden debt risks have shown progress, but vigilance is required to prevent the emergence of new hidden debts [3] - A comprehensive monitoring system for local government debt is necessary to ensure accountability and prevent illegal financing [3] Group 4 - A scientific management mechanism for government bonds will enhance their role in supporting major national strategies and improving public welfare, contributing to stable economic growth [4]