Health care is a crucial aspect of ensuring people’s livelihood，and an important foundation to ensure social stability and promote economic development. In recent years，the country has been strengthening the support to the development of the health care sector，the special bonds issued by local government for health care have developed rapidly. In the first nine months of 2021，the health care local government project income special bonds are mostly issued in collective form，with the issuance periods mostly over 10 years. In addition，the targeting investment projects mainly focus on district level，accompanied by a short construction cycle. The project income mainly comes from the hospital operation income. Overall，the balance between project income and external financing works well，resulting a lower debt repayment risk. However，it is also necessary to pay attention to the debt repayment risk caused by the unexpected delay in construction progress and the deviation in the calculation of the expected income. Going forward from the perspective of improving the selection level of projects，standardizing the calculation system of project income and optimizing the investment structure of special debt. Local government project income special bond for health care should continue enhancing the service capacity and facilitating the upgrade of medical resources to improve its important role in stabilizing residents’ livelihood.