Lan Foan: Plans to increase the large-scale debt limit at one time to replace the existing hidden debt of local governments

On October 12, Minister of Finance Lan Foan said at a press conference of the State Information Office on October 12 that he plans to increase the debt limit on a large scale at one time, replace the local government's stock of hidden debts, and increase efforts to support local governments to resolve debt risks. The relevant policies will be explained in detail to the society after the relevant legal procedures are performed. This policy is the largest measure to support debt in recent years. This is a timely rain, which will greatly reduce the pressure on local governments, free up more resources to support economic development, and consolidate the "three guarantees" at the grassroots level.