China’s Local Government Debt Risk Prevention Legal Measures

Eighteen 3 in after plenary meeting, our country deepens reform pace in accelerating. In a long time, the local government for their own development, a large number of engineering construction and investment in fixed assets, the ongoing loans to all banks, resulting in a large number of government debt, the debt has severely constrained the development of national and local, according to the statistics of the National Audit Office, our local government debt in 2013 up to 20 trillion yuan, the local economic and social development is hindered the local government debt of unlimited expansion will inevitably.Since twenty-first Century, the local government debt intensified. The government debt problem in Iceland had to use force to rescue the world, the world economic instability exacerbated by the development of the government debt crisis and the spread of China’s government debt crisis which comes from China’s long-term economic development accelerated the negative influence brought about by the strong impact in the world, but also the source of our national economy. At the same time, the local government debt is a historical problem, since ancient times, our country in the past at the local government debt problem has taken many effective measuresSince the Third Plenary Session of the eighteen, the Chinese government on the question of local debt risk of extreme concern, at the same time, our country in the revision of the budget law constantly, in order to further solve the problem of local government debt risk. This paper from a legal perspective, from the construction of the local government investment and financing platform of local government investment, legal regulation, the legal regulation of the local government’s illegal guarantee three aspects, carries on the corresponding local government debt law risk guard researchFirst of all, this article from the start with the analysis of the principle of local government debt, local government debt distribution characteristics, so that there is a clear understanding of the local government debt in china. Secondly, this paper introduces the principles of the later, mainly analyzes the local government debt in China related to the specific situation, mainly from the distribution structure of local government debt and the source distribution of the risk assessment of local government debt in china.Third, after the local government debt in China by the end of the corresponding analysis, further grasp the characteristics of local government debt in China, according to the current situation of local government debt in China, analyses the necessity of local government debt in China legal risk prevention, one is control of local government debt, to prevent a similar situation, China the emergence of the European debt crisis at the same time, but also improve the need of China’s civil law system.Fourth, after the foreign experience of local government debt, then the cause of local government debts of our country s are analyzed, the main draw of legal regulation of investment and financing platform is not perfect, the government investment and government illegal guarantee three big problems.Fifth, after analysis of the causes, combined with the basic situation of local government debt in China, according to the local government financing platform, the government investment and government illegal guarantee put forward the legal solutions in three aspects. The basic idea of this study is from the principle of local government debt, with the latest data of local government debt in China as the breakthrough point, the debt of local government of our country the legal measures to solve the problem. In this paper, mainly used the comparative analysis, research methods of data analysis, with reference to relevant foreign literatures, and draws the corresponding conclusion.In western countries, the problem of local government debt is rising, the new century our country’s local government debt issues are also increasingly prominent, at the same time, the national level is also gradually to the local government debt problems are demonstrated and discussed, of local debt audit corresponding, the innovation of this paper is to study the feasibility measures against the local government debt from legal layer.The purpose of this article is to further understanding of the debt of local government of our country, to use legal means to resolve the debt of local government of our country crisis, at the same time, provide a useful reference to solve the local government debt problem in the world, which is more favorable to promote our society by the sustainable development of economy.