The Central Economic Work Conference pointed out that local government debt risks should be actively and orderly resolved, all regions should be urged to take active debt, and that hidden debts must not be added in violation of regulations. Optimize debt restructuring and replacement methods, and take more measures to mitigate the operating debt risks of local government financing platforms. In response to “optimizing debt restructuring and replacement methods,” Pang Yi, a special senior researcher at the National Finance and Development Laboratory, analyzed that simply issuing special refinancing bonds to “replace” them is no longer enough to solve the core problems. “Optimizing debt restructuring” indicates that policy tools will become more diversified and marketable.

The Central Economic Work Conference pointed out that local government debt risks should be actively and orderly resolved, all regions should be urged to take active debt, and that hidden debts must not be added in violation of regulations. Optimize debt restructuring and replacement methods, and take more measures to mitigate the operating debt risks of local government financing platforms. In response to “optimizing debt restructuring and replacement methods,” Pang Yi, a special senior researcher at the National Finance and Development Laboratory, analyzed that simply issuing special refinancing bonds to “replace” them is no longer enough to solve the core problems. “Optimizing debt restructuring” indicates that policy tools will become more diversified and marketable.