Affected by the impact of the epidemic situation in 2020，the pace of issuing local government bonds in Hunan was advanced and its scale was expanded. Meanwhile，the issuance period of local government bonds was extended，the issuance cost was declined，and the secondary market was active. The project income special bond funds in Hunan local government continued to expand，and the areas of fundraising and investment were transferred to municipal，industrial park infrastructure and livelihood services. However，the proportion of special bonds used as project capital was low，and its leveraging effect on investment growth has not been fully released. On the whole，the debt scale and debt ratio of Hunan were relatively high，the debt limit space was limited，the debt repayment pressure was relatively large，but the government was actively resolving the debt risk. In the future，Hunan needs to strictly implement related debt policies，control bond financing costs，strengthen debt risk prevention and control，and implement the funding sources of local government bonds repayment peak periods.