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2025-10-31 13:27:32
[China's Finance Minister Lan Fo'an: Accelerating the Construction of a Long-Term Government Debt Management Mechanism Adapted to High-Quality Development] In a recently published supplementary reading of the "Suggestions of the CPC Central Committee on Formulating the 15th Five-Year Plan for National Economic and Social Development," Finance Minister Lan Fo'an published an article entitled "Giving Full Play to the Role of Proactive Fiscal Policy." Lan Fo'an pointed out that during the 15th Five-Year Plan period, the government will further implement a comprehensive debt reduction plan and do a good job in replacing existing implicit local government debt. It will promote the establishment of a unified long-term regulatory system for local government debt, and hold those responsible for illegal borrowing and fraudulent debt reduction accountable to prevent the recurrence of debt. The government will accelerate the reform and transformation of local government financing platforms, and strictly prohibit the establishment or distorted creation of various financing platforms. It will optimize the debt structure and accelerate the construction of a long-term government debt management mechanism adapted to high-quality development.
