Core Viewpoint - The issuance of replacement bonds is driving the reform and transformation of financing platforms, significantly reducing the number of such platforms and supporting the optimization and structural adjustment of state-owned economic layouts [1] Group 1 - The Ministry of Finance is focused on accelerating the replacement of implicit debts undertaken by financing platforms [1] - The reform aims to lighten the burden on financing platforms, enabling them to operate more efficiently [1] - Future efforts will include the implementation of a series of incremental debt support policies [1]