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Research On Risk Prevention Of Bonds Issued By Local Governments In China

Posted on:2019-04-05Degree:MasterType:Thesis
Country:ChinaCandidate:Y S LiFull Text:PDF
GTID:2346330542458951Subject:Law
Abstract/Summary:PDF Full Text Request
The implementation of the new budget law in 2015 has made the local governments issue their own bonds legally.At present,the issuance of bonds by local governments has become the main way for local government to raise funds.It has played a great role in the construction of local economy and the improvement of public service facilities.In the future,the scale of the issuance of local government bonds in our country will become more and more large.However,due to the lack of regulatory system,local government issuance of bonds has also gathered a lot of risks,so the study of the risk prevention of local government issuance of bonds is conducive to the healthy and stable development of the local government bond market in China.The content of this thesis is divided into five chapters.The first chapter is the introduction,which introduces the background of the topic,the purpose of the study,the significance of the research and the status of the research at home and abroad,and determines the contents and methods of this study.The second chapter introduces the current situation and development stage of local government bonds in China,and analyzes the risks of local government issuing bonds.It also analyzes and summarizes the factors that affect the issuance of bonds by local governments in China.The third chapter compares and analyzes the legislation and risk prevention measures of issuing municipal bonds abroad,and puts forward the reference for China.On the basis of the above research,the fourth chapter puts forward the countermeasures to improve the risk prevention of local government bonds issuing.The conclusion of this thesis is: To prevent the legal risks of local governments issuing bonds,it is mainly to formulate special local government bond management laws and clarify the legal responsibilities of the issuers.To prevent the macro-control risks of local government issuing bonds in China,it is necessary to improve the autonomous management mechanism of local government,reasonable control of the total amount of local government debt,the leading role of strengthening the market,and the establishment of a bond information reporting system.To guard against the credit risk of issuing bonds by local governments,it is necessary to set up a clear supervision institution of local government bonds,establish a self-discipline system of the industry,and clear the legal responsibility of the subject of debt issuance,and to prevent the moral hazard of the local government issuing bonds,mainly to establish the information database of local government bonds and set up a special credit evaluation for local governments.Level organization.
Keywords/Search Tags:Local government debt, Legal risk, Risk prevention
PDF Full Text Request
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