The Central Economic Work Conference made a systematic arrangement on the local debt problem. While adhering to the bottom line of not adding hidden debt, the operating debt of local government financing platforms was clearly included in the scope of key solutions for the first time. A number of industry insiders told the Shanghai Securities News reporter that this statement marks a new stage in local debt management. The scope of debt conversion has been extended from mainly hidden debt to larger, more complex operating debts, and the management approach has also shifted from simply risk prevention to a more systematic and market-based disposal path.

The Central Economic Work Conference made a systematic arrangement on the local debt problem. While adhering to the bottom line of not adding hidden debt, the operating debt of local government financing platforms was clearly included in the scope of key solutions for the first time. A number of industry insiders told the Shanghai Securities News reporter that this statement marks a new stage in local debt management. The scope of debt conversion has been extended from mainly hidden debt to larger, more complex operating debts, and the management approach has also shifted from simply risk prevention to a more systematic and market-based disposal path.