Minister of Finance Lan Foan: While addressing the risk of existing debt, we must resolutely curb new hidden debt

On November 8, Minister of Finance Lan Foan introduced at the press conference of the 12th meeting of the Standing Committee of the 14th National People's Congress held on November 8 that to prevent and resolve local government debt risks, while addressing the risks of existing debt, we must resolutely curb new hidden debts. The Ministry of Finance will continue to maintain a high-pressure supervision posture of "zero tolerance" in conjunction with relevant departments. We will identify, investigate and punish and hold accountable new hidden debts together. Mainly from three aspects.