Debt swaps have been conducted actively nationwide and the local governments are hoping that there will be a third round of debt swaps. Anbound research team is of the view that under the present financial pressure, it is understandable that the local governments are hoping that the Ministry of Finance will approve the third round of debt swaps to relieve local governments' burdens and utilize the funds available to achieve something. What really matters to the local governments is to resolve the immediate crisis and the issue on whether postponing the repayment of debt into future will cause inability to repay in the future is the least of their concern at the moment.