Since 2021，with the gradual restoration of the economy，the scale-based fiscal policy has shrunk，but the tone of the proactive fiscal policy has not changed. The pace of local government bond issuance in Chongqing has been relatively stable，and the scale of issuance has increased slightly，but the issuance cost is still at a high level in the country. The yield to maturity of local bonds of various maturities fluctuated downward，and the scale of secondary market transactions declined. From the perspective of local government project income special bonds，the issuance of local government project income special bonds in Chongqing has increased and the term has beenextended. The raised funds are mostly invested in infrastructure construction，people’s livelihood services and ecological environmental protection projects，leveraging infrastructure investment is in the forefront of the country，but the proportion used for capital is small，and there is still a lot of room for release in the future. The explicit debt of the Chongqing is relatively controllable. The debt ratio are located in the middle and lower reaches of the country. However，in recent years，the space for borrowing has been narrowing. The fiscal balance mainly relies on higher-level subsidies，and the solvency of the districts and counties is clearly polarized.