Research On The Management Of Local Government Bonds

With the development of the local economy, the rapid growth of local fiscal expenditure, revenue is difficult to meet. Local governments at all levels in order to meet the development needs of the region, through a variety of different sizes debt platform, resulting in increased local government debt, the risk is difficult to estimate, the local government debt problem grim. Local government bonds are guaranteed by the government’s reputation for issuing bonds to the public way the funds were acquired debts, is one of an important means to solve the problem of local government debt. Development of China’s local government debt is more bumpy course, the new China was founded in the early once developed rapidly thereafter due to the prevailing economic environment suitable for local government bonds resulted in a "freeze" period, until the1980s the issue again, but due to lack of experience again failed eventually be banned.2009local government bonds issued tentative started again by the finance department of the State agents. So far, China’s local government bonds for five years, which carried out the experimental work of local self-bond issuance is also three years, local government bonds in the country’s rapid pace of development, local economic development has also played a role in promoting sexual but in the management process of local government bonds also found a variety of problems.This article is based on a new budget law as the guiding ideology, to the relevant provisions of the new budget law is based. This paper is divided into five parts, the first part describes the selection of Local Government Bonds management background and significance of the study, and the research results of the management of local government bonds; The second part of local government bonds starting foundation, describes the meaning of local government bonds, the theoretical basis and practical basis in our existence; The third part is the entire focus of the article, to local government bonds in our development process is based on describing the current situation of the management of local government bonds, analysis of China’s local government debt management problems and to the new budget law provides an explanation of the problem and the extension; The fourth part is provided by the local government for a successful experience of foreign debt management can be extracted from our local government debt management useful enlightenment; The fifth part is after the new budget law is understood, the present situation of China’s local government debt management, forecasting issue local government bonds in the future may be encountered in the management process and make relevant policy recommendations. I hope through research can be more well-managed local government bonds, fiscal and economic role of the role of local government bonds have improved.