On October 24, the Sixth Session of the Standing Committee of the 14^th National People's Congress reviewed and approved the State Council's proposal to increase the issuance of national bonds. This measure aims to support post-disaster recovery and reconstruction and to enhance disaster prevention, reduction, and relief capabilities. On October 25, the State Council Information Office held a regular briefing on policies where officials from the Ministry of Finance and the National Development and Reform Commission provided detailed information.

Key points from the briefing:

● The primary purpose of issuing an additional RMB1 trillion in national bonds is to implement the arrangements of the meeting of the Political Bureau of the CPC Central Committee. It aims to support the construction of projects for post-disaster recovery and reconstruction and to enhance capabilities in disaster prevention, reduction, and relief. This is a significant arrangement to fill gaps, strengthen weaknesses, and benefit people's livelihood.

● Although there has been a slight increase in the deficit ratio this year, China's government debt ratio remains within a reasonable range, with the controllable overall risks.

● The newly issued bonds will prioritize projects with urgent construction needs and clear investment effectiveness, avoiding the allocation of funds to general competitive industrial projects, extravagant buildings, vanity projects, and performance-related projects. The goal is to ensure that the funds are used where they are most needed.