The Ministry of Finance will establish a debt department to coordinate the management of government debt

In the context of the continuous advancement of blanket debt, the Ministry of Finance is about to establish a new department dedicated to government debt management. Previously, the government debt management functions of the Ministry of Finance were mainly undertaken by the Government Debt Management Office of the Budget Department; the Treasury Department established the National Debt Management Office and the National Debt Issuance and Payment Management Office to undertake the management of government domestic debt issuance and redemption; the Government Debt Research and Evaluation Center of subordinate institutions cooperates with the Budget Department to carry out statistical analysis of government debt, compliance monitoring of government bond issuance and use, policy research and system construction related to government debt information, etc. In addition, the Supervision and Evaluation Bureau of the Ministry of Finance has strengthened the supervision and inspection of local illegal and illegal debt borrowing in recent years, and has repeatedly reported cases of hidden debt accountability; the local supervision bureaus of the Ministry of Finance monitor local government debt in accordance with the authorization of the Ministry of Finance, strictly control debt risks within the legal limit, prevent and control hidden debt risks, and promptly put forward suggestions for improvement and handling of hidden risks and report to the Ministry of Finance and local people's governments. (Caixin Network)