Research On The Countermeasures To Resolve The Hidden Debt Risk Of Henan Local Government

The implicit debt of local government has strong concealment and infectivity,which is called "black rhinoceros" in the economic and social development.Compared with the explicit debt,the formation mechanism of the implicit debt is complex and not in the monitoring scope of the government departments,so it is more difficult to govern the implicit debt of local governments than the explicit debt.In recent years,Henan provincial government has actively carried out infrastructure construction,people's livelihood projects and social security projects to effectively promote regional economic development,while also accumulating large-scale local government debt.As a large population province in Central China and the main part of central China Economic Zone,how to effectively manage the debt of local government in Henan Province,especially the implicit debt,has become an important problem to be solved urgently.In this context,based on the summary of the current practice of implicit debt resolution in various regions,this paper studies the Countermeasures of implicit debt resolution suitable for Henan Province,which provides reference materials for the government debt risk resolution in various regions of China,and has strong research significance.In the whole research process of this paper,it mainly uses the methods of literature analysis,statistical analysis,empirical analysis and the combination of induction and deduction.First of all,the paper analyzes the current situation of local government debt in Henan Province from three aspects: debt scale,debt investment direction and debt structure,forming a basic understanding of the debt situation in Henan Province.Secondly,on the basis of constructing debt risk index system,the paper uses entropy weight method to determine the weight of each index and calculate the comprehensive evaluation value of debt risk in Henan Province.Based on the results of empirical analysis,combined with the actual development of Henan Province,it analyzes the risk of hidden debt in Henan Province.Thirdly,this paper summarizes the hidden debt resolution measures of Henan Province and their effects,analyzes the shortcomings and difficulties in the resolution,and explores the ideas of hidden debt resolution in Henan Province by referring to the practice of hidden debt resolution in various regions of China.Finally,according to the conclusion of the above research,this paper puts forward countermeasures and suggestions from the aspects of improving debt management,improving long-term debt paying ability,strengthening the construction of regional capital market,promoting the transformation of financing platform and resolving short-term debt.