北京商报讯（记者 程靓）12月13日，据央视新闻消息，在中国国际经济交流中心举办的2025-2026中国 经济年会上，中央财办分管日常工作的副主任、中央农办主任韩文秀表示，要继续纵深推进全国统一大 市场建设，下更大的气力推进解决拖欠企业账款问题。韩文秀介绍，继续规范涉企执法行为，深入整治 内卷式竞争，综合运用标准引领、价格执法等监管手段，形成优质优价、良性竞争的市场秩序。要制定 和实施进一步深化国资国企改革方案，完善民营经济促进法配套法规政策，下更大的气力推进解决拖欠 企业账款问题，坚决防止前清后欠。 ...

这次，瞄准的依然是企业闹心的一件事：欠账。 2025年12月8日召开的中央政治局会议明确要求，解决好拖欠企业账款和农民工工资问题。 能在中央政治局会议上被提及，本身就意味着分量。 值得注意的是，这不是今年第一次被提及。 2025年4月25日召开的中央政治局会议，就已明确要求加快解决地方政府拖欠企业账款问题。 再往前看，2025年2月17日召开的民营企业座谈会，更是直接点题：着力解决拖欠民营企业账款问题。 当时还特别强调：解开这个疙瘩，要从政府、从国有企业特别是中央企业带头做起。 反复提及，凸显重视。 中央再发话。 2025年3月28日，国务院常务会议审议通过《加快加力清理拖欠企业账款行动方案》。 "加快加力"四个字，足以说明解决问题的紧迫性，也意味着后续会有更密集、更有力的举措落地。 为何中央对"欠账"问题如此关心？ 因为对很多企业来说，尤其是中小企业，有账难要，就是悬在头顶的达摩克利斯之剑。 别小看一笔拖欠的账款。 它可能是一家小厂的原材料采购款，拿到手就能开工生产；可能是一家外贸公司的尾款，收回就能给员 工发工资；也可能是一家初创企业的周转金，差这笔钱会难以为继。 账要不回来，资金链就容易断。资金链一断， ...

Key Points - The issuance of replacement bonds for hidden debt reached approximately 1.8 trillion yuan in the first half of the year, indicating a rapid and early issuance trend [1] - The issuance of special new bonds for debt resolution is projected to be 800 billion yuan annually for five years starting in 2024, with 4.623 billion yuan issued in the first half of this year [1][2] - The total amount of local bonds issued for debt resolution accounted for 41% of the total issuance in the first half of the year [1] - The issuance of replacement bonds helps to make hidden debts visible, thereby reducing the scale of existing hidden debts and improving the overall debt structure [2] - Local governments are increasingly using special bonds to repay overdue payments to enterprises, with specific allocations made in regions like Yunnan [2][3] - The Ministry of Finance emphasizes the importance of resolving overdue payments to enterprises, particularly for private enterprises, to enhance their resilience against risks [3][4] - There is a call for accelerating the transformation of local investment companies to reduce reliance on local governments and improve their market competitiveness [4][5]

Core Viewpoint - Yunnan province is reallocating its newly issued special bonds to address government debts owed to enterprises and to mitigate hidden debts, significantly reducing the amount directed towards project construction in 2025 [1][2][3]. Group 1: Special Bond Allocation Changes - In 2025, Yunnan received a total of 95.5 billion yuan in new special bond quotas, with only 23 billion yuan allocated for project construction, a reduction from 50 billion yuan at the beginning of the year [1][2]. - The allocation for addressing government debts owed to enterprises is set at 35.6 billion yuan, while the amount for supplementing government fund finances increased from 20 billion yuan to 36.9 billion yuan [1][3]. Group 2: Comparison with Other Provinces - Other provinces, such as Hunan, have also disclosed their special bond allocations, with nearly 60% directed towards project construction and about 40% for resolving debts owed to enterprises and hidden debts [2]. Group 3: Economic Implications - The shift in funding priorities indicates a serious issue with government debts owed to enterprises in Yunnan, and the reallocation aims to improve economic circulation by addressing these debts [3][4]. - The use of special bonds to inject liquidity into enterprises is expected to alleviate financial pressures and prevent debt issues from spreading through the industrial chain, thereby enhancing the regional business environment [4]. Group 4: Debt Management and Safety - As of April 2025, Yunnan's total government debt stood at 1.67985 trillion yuan, with a strict control within the debt limit of 1.97244 trillion yuan for the year [5].

Core Viewpoint - Multiple provinces in China have announced their 2025 budget adjustment plans, focusing on the allocation of newly issued special bonds to address issues such as project construction, government fund supplementation, and settling overdue payments to enterprises [1][4]. Group 1: Budget Adjustments and Debt Allocation - The total scale of new local special bonds for this year is set at 4.4 trillion yuan, an increase of 500 billion yuan compared to the previous year [1]. - Provinces with significant existing debt pressures are allocating a larger portion of new special bonds to resolve existing debt rather than for new project construction [1][6]. - Specific allocations in provinces like Hunan and Yunnan show a clear emphasis on addressing overdue payments to enterprises, with Hunan allocating 200 billion yuan and Yunnan 356 billion yuan for this purpose [2][3]. Group 2: Focus on Settling Overdue Payments - The issue of settling overdue payments to enterprises has been highlighted as a separate project in budget plans, indicating its growing importance [1][2]. - The central government has signaled a stronger focus on resolving overdue payments, with plans to utilize special bonds for this purpose [4][5]. - The allocation of funds for settling overdue payments is seen as a critical measure to alleviate financial pressures on enterprises and prevent further debt accumulation [6][7]. Group 3: Recommendations and Future Outlook - Recommendations from local financial committees suggest prioritizing the allocation of new debt to ongoing projects and addressing high-risk areas to prevent incomplete projects [7]. - There is a call for optimizing the structure of debt allocation to ensure that both debt resolution and development goals are met without excessive growth in legal debt levels [7]. - Experts emphasize the need for a balanced approach to managing existing debt while fostering development, particularly in regions with heavy debt burdens [7].