The existing local bonds scale of Guizhou is at a relatively high level among 31 provinces（autonomous regions and municipalities）in China，but the overall financial and economic strength is weak. In recent years，the ratio on GDP and ratio on revenue are high，and the debt risk is increasingly prominent. The report firstly describes the operation of local bond market in Guizhou，and analyzes in detail the use of special bond funds for project income and its driving effect on regional investment. Finally，the report analyzes the regional debt risk around the overall situation of local government bonds and economic and financial performance of Guizhou，and puts forward suggestions on the development of local bond market in the next stage of Guizhou.