Studies On Legal Issues Regarding Local People's Congress Commitments On Loan Repayment

The Commitment Letters on loan repayment offered by the Local People's Congresses and theirs Standing Committees (LPCSC) in Project Financing interfere in the areas of Guarantee Law, Budget Law, Constitutional Law and Organic Law of the Local People's Congresses and Local Governments. Based upon the basic forms, the main features and the legal characters of the Commitments, we try to present a comprehensive picture of the legal risks on the legal supervision by the LPCSC that involved of main matter of laws, giving attention to the main points aiming at two core contents (confirm over year or over term budgets, and sanction the local government direct or indirect financing) and three key procedures (superintendence on carrying the Local General Budget, accreditation and censorship of the Rules, decisions by LPCSC on local important affairs), and seek in this Paper to provide more realistic feasible superintendence resource and submittal of the procedures and contents.