A Study Of China Local Government Bonds

Local government bonds is one of the most important way for local government to raise fund. Many countries in the world issue local government bonds while China begins issuing local government from 2009. In the background of Chinese local government issuing bonds, the thesis suammarize the basic theories of local government bonds; The experiences of the U.S. and Japan are introduced for guiding China local government bonds issuuance. According to the analysis of the current China local government bonds system, some effective solutions are raising to deal with the problems. This thesis is divided into four parts:In the first part, there is an overview of local government bonds. This section describes the concepts of local government bonds, characteristics, functions and basic theories.In the second part, the local government bonds system of the U.S. and Japan are introduced. A comparative analysis supports China should stick to issue local bonds; China should explore tax sharing system with Chinese characteristics under the operating mode of local government bonds.In the third part, the necessity and status quo of China's issuance of local government bonds are discussed. This necessities focus on five aspects, they are economic development, improving people's livelihood, improvement of the government's financial functions, how to regulate local government borrowing behavior and tax sharing system.The fourth part is about China local government bonds's problems, and solutions. According to the analysis of existiong problems, four proposals are raised.