Local Government Debt Risks And Controlling In China

Local government debts regard the local government as thedebtor, according to the law, agreement or contract, the obligation to undertake certain acts to other economic entities formed the relations between rights and debts. Local debts include: Local debts to the central, Local government and its department debts to foreign governments and international financial institutions and individuals, the various local governments arrears, local government guaranteed debts, local state-owned enterprise debts, local financial institutions debts , the debt among governments at all levels and so on.This dissertations consist of five parts, regards the Chinese local government debts risk as the research object. At first, this dissertation presents government debt risks related concepts of the three groups, which are government and local government, debt and local government debt, risks and local government debt risks. It definies of local government debts risk and describes systematic the theory of government debt risk through the analysis of theory and methods. Sscondly, thisr dissertation takes a comprehensive analysis to the current situation, characteristics and problems about local government debts in China. It introduces the composition and classification about the local government debt, and analyses impersonality the causes of local government debts and the main problems with management. Thirdly, this dissertation introduces the successful experience that the developed countries manage local government debt. This dissertation puts forward some short-term and middle-term Countermeasures to solve the problem of local government debts, such as improvement of the public financial management system, establishment of information management system about local government debt, establishment of early warning systems about local debt crisis, controlling scientific of local government debt scale, establishment and improvement of information disclosure system, establishment of sinking fund and comprehensive management measures. Finally, this dissertation introduces the reformation of the investment and financing systems and the successful practice of government debts comprehensive management about 'Debit, Use, Repayment' which taking Hefei city government debt management system as an example.