Chen Chi-mai Achieves Five Consecutive Years of Zero New Borrowing: Kaohsiung Reduces Restricted Debt by NT$31.2 Billion While Steadily Advancing Major Projects

The Kaohsiung City Government’s Finance Bureau announced that since Mayor Chen Chi-mai took office in August 2020, he has upheld strict fiscal discipline by actively expanding revenues, controlling expenditures, promoting private investment, and attracting business investments. Starting from 2021, the city has achieved five consecutive years of 'zero new borrowing,' with cumulative restricted debt reduced by NT$31.2 billion. At the same time, the city has leveraged self-liquidating construction financing mechanisms to accelerate major public infrastructure projects such as rail transit and social housing, balancing urban development with fiscal sustainability.

Finance Bureau Director Li Qiong-hui pointed out that in recent years, the municipal government has continuously advanced key policies including rail transit, social housing, and social welfare, actively seeking additional revenue sources despite limited financial resources. By promoting public-private partnerships, industrial development, and tourism, the city has driven growth in population flow, capital flow, and consumption. As a result, Kaohsiung’s own-source revenues have exceeded NT$100 billion for five consecutive years, forming a solid fiscal foundation for supporting major construction projects.

Director Li explained that self-liquidating debt differs fundamentally from general public debt. It is primarily used for revenue-generating public projects such as rail transit systems. During construction, funding is provided through financing, and after completion and operation, repayment is made through fare revenues, land development proceeds, increased tax receipts, and floor area ratio bonuses. This approach complies with the Public Debt Act and helps reduce the government’s fiscal burden.

She further noted that since the mayor took office, self-liquidating debt among Taiwan’s six major cities has generally increased. Kaohsiung’s self-liquidating debt rose from NT$91.2 billion to NT$142.8 billion—an increase of NT$51.6 billion—lower than New Taipei City’s NT$80.3 billion increase and Taoyuan City’s NT$88.8 billion increase. This indicates that Kaohsiung has successfully balanced major project advancement with fiscal prudence.

According to the Finance Bureau, as municipal projects continue to progress, Kaohsiung’s annual expenditure budget has grown from NT$146.5 billion in 2020 (FY 109) to an estimated NT$199.2 billion in 2026 (FY 115). Going forward, the city government will continue promoting diverse models such as public-private partnerships, government-led urban renewal, and joint development projects to attract private capital into public infrastructure. While maintaining fiscal discipline, these efforts aim to accelerate urban development, enhance citizens’ quality of life, and build a sustainable future for Kaohsiung.