special government debt refers to the debt that the government undertakes for special projects, and the principal and interest are repaid with the income of special projects or the corresponding government funds. For example, the debt of government bonds issued for public welfare projects with certain income.

Legal basis

Article 2 of the Measures for the Administration of Issuance of Local Government Bonds

The local government bonds mentioned in these Measures refer to the government bonds issued by provinces, autonomous regions, municipalities directly under the Central Government and the people's governments of cities with separate plans (hereinafter referred to as local governments) that have approved the issuance of bonds by the provincial people's governments and agreed to repay the principal and interest within a certain period.

local government bonds include general bonds and special bonds. General bonds are government bonds issued for non-profit public welfare projects, mainly with general public budget income as the source of debt service funds; Special bonds are government bonds issued for public welfare projects with certain income, and the government fund income or special income corresponding to public welfare projects is used as the source of debt service.