The Research On China Municipal Bond Issue For City Infrastructure Financing

In the current urbanization development in china, the main body of the city infrastructure investment is still the central government and the local governments, this kind of condition could not adapt to the huge financing demand of the city infrastructure development. The pressure of city urbanization causes the local government to try to expand the financing channel of city infrastructure investment. According to the international experience and the Chinese national condition, vigorously developing the municipal bond as the core direct financing method will alleviate the pressure of city urbanization.The municipal bond belongs to the local government, it is a very important financing tool in developed country, and it is the main capital source as public product to the local government. At present, the municipal bond still was blank in China. How to profit the experience of municipal bond from developed country according to the China urbanization development? In this article from standard the urbanization infrastructure financing, we proposed the Chinese characteristic municipal bond.The research of overseas municipal bond are maturely, mostly concentrates to the municipal bond are how to keep away risk and how to use the municipal bond as finance tool, as well as how to do a variety innovation and so on.In this article we analyze the financing problem which we are facing in our city urbanization development, and elaborate the necessity and feasibility of starting municipal bond financing in the city infrastructure development, further I analyze the overall frame and system construction of the municipal bond financing and propose how to keep away risk of starting municipal bond financing.This article contains the following aspects:In the first part, analyze the present situation of municipal bond and the problems we are facing in our city infrastructure financing, propose the necessity of starting capital invests to the city infrastructure financing. In the second part, through comparison of each kind of present financing risk, propose the necessity of distributing municipal bond in our country, elaborate flaw reason and the solution to...