Policy Research, The Development Of Local Government Bond Market In China

Local government bonds is the debt to society by the local government as the representative of area residents, to build the local utility. More widely in the United States of America , some local governments or department can also bond debt alone. In China, local government bonds just lit the lamp spark, but local government bonds of America have made great contributions to economic construction, whose scale are larger than government bonds. Local government in China urgently need channels to get capital. For economic development, fiscal reform measures must be done by local government owing the huge amount of local government debt. Local government bond market has become way out by the policy. We make local government debt gradually emerge and become open and transparent to public oversight. Learning from the U.S. experience of local government bond market, bond market development of China's local governments have become pressing needs.It is different between China financial system and U.S. financial system. The development of China's local government bonds can not copy the United States. After years of development China's bond market has been very good . Using the existing system of China's bond market, the local government bond market has become an optional path. The development of new public management philosophy impact on me. when China's financial reform is now, I draw on the concept of an advanced system. local government bonds will be defined as public financial products . I explore its localization and characterization with financial products from the public perspective . We regard the Chinese local government bond market as quasi-government bond market, characterize as nonprofit public financial products, thus explore the market development policies.