The Measurement And Risk Prevention Of Implicit Debt Scale Of Local Governments In Gansu Province

In July 2017,the Politburo meeting proposed "It is necessary to actively and steadily resolve the accumulated local government debt risks,effectively regulate local government debt financing,and resolutely curb implicit debt increments." The meeting called for the government to further strengthen financial supervision and coordination,solidly rectify financial chaos,and comprehensively improve the efficiency and level of financial services.Due to the overcapacity of traditional industries,weak economic foundation,large debts in infrastructure construction and slow structural transformation,Gansu Province has low government self-sufficiency rate,narrow financing construction channels and excessive government debt.How to resolve the stock debt and curb the new implicit debt of local government has become the primary problem that Gansu Province needs to solve.This paper takes the implicit debt of local government in Gansu as the main research object,starts with relevant theories,combines the current situation and structure of local government debt in Gansu Province,and uses the indirect method to measure the implicit debt scale of local governments in Gansu Province.The reasons for the formation of implicit debts of local governments in Gansu Province are the mismatch between government financial power and power,the conflict between financing demand and supply,the deviation of local government performance,and the lack of debt control.After analyzing the hidden debt risks of local governments in Gansu Province,according to the actual situation of Gansu Province,This paper proposes to transform government functions,improve the assessment mechanism;improve economic strength,improve the financing mechanism;standardizegovernment bond issuance behavior,strengthen risk constraints;establish debt statistics database,and improve fiscal transparency and other countermeasures.