PANews reported on September 29th that, according to Caixin, the Ministry of Finance is about to establish a new department dedicated to government debt management, as a comprehensive debt reduction package continues to advance. Previously, the Ministry of Finance's government debt management responsibilities were primarily handled by the Government Debt Management Office within the Budget Department. The Treasury Department, under which the Treasury Department operates, includes the Treasury Bond Management Office and the Treasury Bond Issuance and Redemption Management Office, responsible for the issuance and redemption of domestic government debt. The Ministry's affiliated institution, the Government Debt Research and Evaluation Center, collaborates with the Budget Department to conduct government debt statistical analysis, monitor the compliance of government bond issuance and use, and conduct policy research and system development related to government debt information. Furthermore, the Ministry of Finance's Supervision and Evaluation Bureau has strengthened its oversight and inspection of illegal and irregular local borrowing in recent years, reporting numerous cases of accountability for hidden debt. Local regulatory bureaus of the Ministry of Finance, authorized by the Ministry of Finance, monitor local government debt, strictly control debt risks within legal limits, prevent and control hidden debt risks, and promptly propose improvements and solutions when risks are discovered, reporting them to the Ministry of Finance and local governments.