Since 2020，the local government bonds issuance pace of Xinjiang has been accelerated，the scale of issuance has increased，the secondary market of trading has been active，the capacity of special bonds has been significantly expanded，and the overall issuance costs have declined. Xinjiang continues to innovate in the types of project income special bond funds，its investment was mainly for the people’s livelihood，and the investment structure has been optimized day by day. However，the proportion of special bonds used for project capital was still low，the capital’s leveraging effect on investment growth has not been fully released. From the perspective of debt situation，Xinjiang will face certain debt repayment pressure in the years from 2021 to 2024，but its debt level is relatively low and debt risks were controllable. In the subsequent debt management process，Xinjiang should implement the requirements for comprehensively implementing budget performance management，rationally arrange the term structure and strengthen the prevention and control of debt risks.