Officials from the Central Financial Office stated that it is common practice in a market economy to reasonably incur government debts for public expenditure, especially capital expenditure, which is beneficial for utilizing social savings, expanding domestic demand, enhancing public service capacity, and promoting economic development. Currently, the debt ratio of our government is about 70%, which is generally low on an international scale. Our government debt is primarily domestic, with most forming effective assets, and there are many other assets and resources that can be activated, so the overall risk of government debt is controllable. Debt transformation should occur through development, and development should happen through debt transformation, effectively preventing and resolving local government debt risks. (Xinhua News Agency)