Local Debt: Risk Research And Solution Way

Since reform and open policy, our country economic society vigorous development. After marches into the new century, although our country economy is maintaining the growth continuously, but in fuel economic growth "three-in-hand", investment proportion oversized. In particular after affects whole world in 2008 the international finance crisis eruption, in order to overcome the international finance crisis to our country the impact, the maintenance economy continually growth, the central authority have at the right moment promoted "4 trillion" the investment plan. Various local authorities in order to coordinate the central authority the investment plan, also appears this local in abundance the investment plan. The massive investment demand massive funds, this causes originally not the wealthy local finance, even more has too many problems to tackle. Various local authorities positively through many kinds of channels, massive floats a loan the debt, had had the scale huge local authority debt. Along with local authority debt scale fast inflation, local authority debt risk also along with its enlarge. These risks do not favor the local authority finance the health, does not favor the place economy the development, also does not favor social the harmony to be stable. Therefore, how guards against and melts the local authority debt and risk, manages well the place debt, with the place debt, is the important topic which is worth us studying thoroughly.This article main text divides into three parts.The first part has contained the background which the local authority debt produces and studies the place debt question the significance. With emphasis introduced the domestic and foreign scholars to the government debt research results and to our country local authority debt solution countermeasure. Simultaneously has also enumerated, the developed country in government debt management correlation experience, these experiences is worth us referring to the model.The second part is analyzes the place debt present situation, the origin and the risk performance. Through the audit office and other official statistical data, analyzes our country's local authority debt realistic condition, had pointed out creates risk situation which the place debt question the origin and possibly appears.The third part is in analyzes the place debt question in the foundation, further proposed melts the place debt question the solution way. The perfect place debt management legal system environment solves the place debt question most important work. Uses the strict local finance budget management to offer loans the behavior to the local authority to implement "the hard restraint", controls the local authority debt from the source the scale. Regularly to the entire society public local authority's debt information, accepts the society to supervise. We also must through the financial innovation, enhance the debt fund with the marketability way the security and the validity. Reforms the place debt positively the management pattern, the development financing channel, introduces the folk capital to participate in the place items of basic construction positively, for instance PPP pattern. Through the release policy in dividend, encourages the investor to purchase the place bond, enhances the place debt in the financing market attraction degree. If gives the place bond in the holder some policy preferential benefit.