Quanzhou has received approval for the issuance of a second batch of special bonds totaling 1.888 billion yuan, designated to supplement government funds. This allocation accounts for 18.7% of the provincial total and is specifically aimed at swapping out existing hidden debts.

The bonds have been precisely distributed to key areas according to demand, with the municipal level receiving 1.422 billion yuan, Quangang District 218 million yuan, Jinjiang City 104 million yuan, Anxi County 77 million yuan, and Nan'an City 67 million yuan. The bonds carry a 10-year term with an interest rate of 1.74%, which is expected to play a significant role in optimizing the city's debt structure, reducing costs, and improving efficiency.

The implementation of these bond funds is set to bring multiple positive effects to the city.

First, it will effectively reduce financing costs. By swapping and optimizing the debt structure, it is projected to lower interest payment expenses by 107 million yuan over the life of the bonds, easing the burden of debt repayment.

Second, it will strengthen risk prevention and control capabilities. The funds from these special bonds for hidden debt swaps will effectively alleviate liquidity pressure on both the city's finances and state-owned enterprises. This frees up capital to safeguard funding needs in key areas, continuously reinforcing the city's capacity for debt risk prevention, and providing solid support for high-quality economic and social development.