There is news that the Ministry of Finance plans to peg local debt swap program at 15 trillion yuan. This means that the government is postponing the repayment of almost all local government debt by way of debt-swapping model.

ANBOUND's scholars point out that, overall, in light of the economic development pressure under the new normal; China is preparing to jump-start the "combat car" of fiscal expansion and to alleviate the economic downturn through moderate fiscal expansion.