Next year, over 3 trillion yuan in local government bond quotas is expected to be allocated to various regions within this year.

To plan and prepare early, localities will receive part of next year's government bond issuance quotas in advance before the end of this year, which reflects that the proactive fiscal policy is continuing to intensify. Recently, Zhao Zeyong, deputy director of the Debt Management Department of the Ministry of Finance, said at a press conference on the fiscal revenue and expenditure situation for the first three quarters that the Ministry of Finance will promptly carry out the work of pre-allocating part of the 2027 new local government debt limits, guide localities to plan and prepare early, and promptly fulfill relevant procedures such as budget preparation, so as to ensure that bond issuance starts as early as possible in January next year. Wen Laicheng, a professor at Central University of Finance and Economics who has long tracked local bonds, told Yicai that, judging from the current situation, the Ministry of Finance is very likely to continue to pre-allocate part of the 2027 new local government debt limit at the maximum ratio of 60%, that is, 3.12 trillion yuan.