New Trends in Localized Debt: Multiple Regions Complete Hidden Debt Clearance, Accelerating Debt Repayment and "Platform Withdrawal" This Year

From the recent government work reports and fiscal budget reports released by various regions for 2026, it has been found that over the past year, many places have announced the clearance of local hidden debts, and the number of urban investment companies has been significantly reduced, with some regions exceeding their debt resolution tasks. Since 2026, at least 34 cities nationwide have announced the latest progress on their hidden debt clearance tasks, including Siping City and Songyuan City in Jilin Province, and Shuangyashan City in Heilongjiang Province, which announced that they achieved hidden debt clearance last year. "As the reform of state-owned enterprises deepens and the requirements for debt risk prevention and control continue to increase, many regions have put forward more urgent demands for urban investment companies to 'exit the platform.' More and more regions will clear hidden debts ahead of schedule, and the work of resolving hidden debts is nearing completion," said Zhou Lijun, Executive Director of the Public Utilities Department at Dongfang Jincheng