Ministry of Finance: Will promptly proceed with the work related to pre-allocating part of the new local government debt for 2027

On October 23, Zhao Zeyong, Deputy Director-General of the Debt Management Department of the Ministry of Finance, stated at a Ministry of Finance press conference that in recent years, in accordance with authorization from the Standing Committee of the National People's Congress and with the approval of the State Council, the Ministry of Finance has, within 60% of the current year's newly added local government debt limit, pre-allocated the following year's newly added local government debt quota in the fourth quarter of each year. The Ministry of Finance will promptly carry out the work of pre-allocating part of the newly added local government debt for 2027.