Since 2021，the issuance scale of local government bonds in Hainan province has decreased，and the existing scale of local government bonds is relatively low among all provinces. By the end of September of 2021，the stock scale of local government bonds in Hainan province is 2796.94 billion RMB. The issuing cost of bonds is relatively low，and the issuing period is mainly medium and long term. The activity of the local government bond secondary market is low. The project income special bond funds in Hainan province have expanded，mainly to municipal construction and industrial park infrastructure construction. There is no new special bonds to be used as capital in Hainan province. The debt balance of Hainan is relatively low，but the debt rate increases rapidly year by year. The debt pressure of Hainan is relatively large，but the overall debt risk is controllable. In the future，Hainan should pay attention to improving the use efficiency of special bonds，rationally promoting the application of capital to amplify the driving effect of infrastructure investment，rationally arrange the term structure，strengthen the use management of local government bonds and control debt risks.