Research On Local Government Debt Management Issues In China

Since 2008, China promulgated a series of policies to boost investment and stimulate the economy for responding to to the global financial crisis and safeguard the economy running smoothly.Urbanization construction and infrastructure construction were in full swing all over the country to carry out.Local government debt also had been Expanding rapidly,Debt risk emerged and caused the party and government attention.In order to find out the scale of government's debt and the level of debt risk,the National Audit Office carried out two nationwide audit of government debt in 2011 and June 2013. Two audit results announcement were all noted that the expansion of local government debt was rapid, but the overall risk was within the controllable range. However, different parts of the economic and social situation is different, in different place local governments' debt situation is also very different.As grass-roots government,A district located in Nanjing, Jiangsu Province. In recent years A district vigorously promote economic and social development, its urbanization continued to increase investment,and A district achieved remarkable outcomes.But A district also has many deficiencies in terms of government debt management and risk prevention system.As Basic level government,Reasons for A district's government debt problems of formation of both factors macroeconomic policy environment, but there are also some issues on its own management.This article reports base on the debt audit results released by the Audit Commission.First,I will elaborate national local government debt the current overall situation,and analyze the reasons of leading to the formation of our government debt.And then through analyzing A district's government debt data and information,We will learn about the status of government debt management system.Next, the paper will analyze the risk of government debt,a conclusion is that the risk prevention and management of A district government debt are not perfect.Last,the paper make some suggestions about improving macroeconomic policy and the risk prevention and management of local government debt.There is a certain reference value to regulate the borrowing behavior of local government and promote local government to further strengthen the debt management.