The risks of local government special bonds are not only from being too large，which exceeds the capacity of local finance，but also from the uneven quality of the assets corresponding to special bonds. This report estimates the issuance scale of special bonds in the next five years，and uses this as a benchmark to calculate the overall risk indicators of relevant special bonds. At the same time，the report also estimates the inter-provincial special bonds in the next five years，and compares the structural risks between regions. The study found that the overall risk of special bonds is controllable，but the structural risk of some provinces is more prominent. In addition，based on big data technologies such as web crawlers and penetration，the report also designs a set of comprehensive system modules for risk management of special bond projects to monitor and manage the risk of each link，which is the entire process of “borrowing，” “using，” “managing” and “return” of special bonds.