构建同高质量发展相适应的政府债务管理长效机制，一方面，要科学有效管理好政府债务，发挥政府债 券的作用，促进高质量发展；另一方面，要统筹发展和安全，切实防范化解地方政府债务风险。 优化政府债务规模结构，增强财政可持续性。实施更加积极的财政政策，既要充分发挥政府债务的作 用，也不能"寅吃卯粮"，这就需要全面评估政府偿债能力、举债空间和债务风险，科学合理确定赤字 率、举债规模。优化中央和地方政府债务结构，科学合理安排地方政府债务规模。一般国债、超长期特 别国债、地方政府一般债券、专项债券规模等各类债券具有不同的功能、作用，通过优化结构、组合运 用，更好地适应经济社会发展和宏观调控需要。 强化债券发行使用管理，提高政府债券效能。近年来我国持续加强政府债券发行、资金分配使用管理， 形成法定债务"闭环"管理制度体系。严管理、提效能的空间还不小。专项债券方面，需要继续优化完善 管理，健全"借、用、管、还"全生命周期管理机制，防止低效、无效投资，更好发挥强基础、补短板、 惠民生、扩投资等积极作用。完善专项债券偿还机制，确保按时足额还本付息，防范偿还风险。超长期 特别国债方面，也需要科学评估政策实施情况，优化完善政策安排，加强 ...

Core Points - The establishment of the "Debt Management Division" by the Ministry of Finance aims to enhance the management and monitoring of government domestic debt, addressing hidden debt risks [2][3][5] - The upcoming "15th Five-Year Plan" emphasizes the importance of proactive fiscal policies and the prevention of local government debt risks, with a commitment to not increase hidden debts [5][6] - The focus on optimizing fiscal expenditure and improving the efficiency of financial policies is highlighted, with a strategy to support key national strategic tasks [6][7] Group 1: Debt Management - The newly created Debt Management Division will draft and implement domestic debt management policies, oversee government debt issuance and repayment, and enhance monitoring to mitigate hidden debt risks [3][5] - The leadership of the Debt Management Division includes Director Li Dawei, who has prior experience in budget management and debt research [3] Group 2: Fiscal Policy and Local Government Debt - The Ministry of Finance plans to prevent and resolve local government debt risks over the next five years, establishing a long-term regulatory system for local government debt [5][6] - The commitment to not create new hidden debts is described as a "strict discipline," with serious accountability measures for violations [5][6] Group 3: Healthcare Funding - The "15th Five-Year Plan" suggests increasing fiscal support for county and grassroots healthcare institutions to maintain their public welfare nature [8][9] - The plan includes specific measures to enhance funding for public hospitals and grassroots medical institutions, focusing on basic public health services and addressing operational costs [9][10] Group 4: Investment in Public Services - The government aims to optimize fiscal spending by focusing on areas with high social benefits and addressing market failures, while minimizing direct intervention in microeconomic activities [7][8] - There is a clear intention to support sectors that require financial assistance, particularly in healthcare, to ensure the sustainability of public services [10][11]

Core Viewpoint - The article emphasizes the importance of implementing proactive fiscal policies to support economic recovery and high-quality development, while also addressing social welfare and employment issues [1][16]. Group 1: Fiscal Policy Implementation - The Ministry of Finance will accelerate the issuance and utilization of ultra-long special government bonds and local government special bonds to create tangible work output [1][16]. - A total of 14.1 trillion yuan was spent from the national general public budget in the first half of the year, maintaining a strong expenditure intensity [7][15]. - By the end of June, 9.29 trillion yuan in central transfers to local governments had been disbursed, with over 90% of central budget investments allocated [8][15]. Group 2: Economic Stability and Growth - The article highlights the need to support employment, stabilize enterprises, and maintain market expectations through fiscal measures [7][15]. - Domestic demand is emphasized as a strategic focus, with measures to stimulate consumption and investment, including 1,620 billion yuan in special bond funds to support consumer goods [9][15]. - The GDP grew by 5.3% year-on-year, with domestic demand contributing 68.8% to economic growth, indicating a strong recovery [15]. Group 3: Social Welfare and Employment - The Ministry of Finance plans to enhance social security, healthcare, and education funding, with education and social security expenditures each approaching 4.5 trillion yuan, reflecting a year-on-year increase of 6.1% and 5.9% respectively [11][15]. - Employment support policies will be strengthened, including a 667.4 billion yuan allocation for employment subsidies [11][15]. - The implementation of a childcare subsidy system and gradual promotion of free preschool education are also highlighted to meet the needs of families [17]. Group 4: Fiscal System Reform - The Ministry of Finance is committed to deepening fiscal and tax system reforms to align with modern governance needs, including optimizing tax policies and enhancing budget management [12][18]. - A zero-based budgeting reform pilot is being conducted in 16 central departments to improve financial efficiency [13][18]. - The establishment of a modern budget system and a more effective transfer payment system is also a focus to enhance local fiscal autonomy [18].

Group 1 - The article emphasizes the need for the Ministry of Finance to align its actions with the central government's analysis of the economic situation, promoting high-quality economic and social development through effective fiscal policies [1][22] - The Ministry plans to implement a childcare subsidy system, gradually promote free preschool education, and provide subsidies for elderly care services for disabled seniors to better meet the service needs of the population [1][23] Group 2 - The Ministry of Finance aims to enhance employment stability through policies such as job retention subsidies, tax reductions, and employment support for key groups [1][23] - There is a focus on increasing educational support and improving the quality of educational resources, alongside the implementation of social security, healthcare, and welfare policies to ensure basic living standards for vulnerable groups [1][23] Group 3 - The Ministry is committed to accelerating the issuance and utilization of long-term special bonds and local government bonds to create tangible work output as part of its fiscal policy [1][22] - The article highlights the importance of using fiscal funds to guide and stimulate economic activity, ensuring that various policy effects are continuously released [1][22]