Research On Heilongjiang Provincial Government Debt Risk Management Problems And Countermeasures

Although China's current Budget Law stipulates that "local budgets at all levels are formulated in accordance with the principle of "living within one's means,balancing revenue and expenditure,without deficits".But in fact,local governments have various kinds of debts all the time.And it is expanding day by day,even forming a huge debt risk,which poses a great threat to China's economic and financial security.In addition,since the government cannot rely on limited financial resources to achieve large-scale capital input,the shortage of funds can only be made up by means of debt financing,which largely restricts the stable development of local finance.To some extent,local government debt provides financial support for infrastructure construction and promotes the rapid development of local economy.However,if we do not pay attention to the management of debt risk and wantonly expand the scale of financing,it will inevitably make local governments unable to pay their debts on time,causing a serious debt crisis,and then bring tremendous impact on the market economy and social order.A series of documents issued by the Ministry of Finance not only show that our country attaches great importance to preventing local government debt risks,and always implements the principle of sustainable fiscal expenditure,but also feedback that many local governments have reached the point where the state must carry out strict politics.In this context,in order to avoid regional and systemic risks,Heilongjiang provincial government needs to improve its own debt risk management level and constantly optimize debt management in order to achieve the goal of steady development.In the study of government debt risk management in Heilongjiang Province,theories such as collaborative management theory,government governance theory and public governance theory are used to systematically define the meaning of debt risk,and literature query method,investigation analysis method and comparative analysis method are used.By analyzing the current situation of heilongjiang province's government debt risk management,this paper reveals the problems of heilongjiang province's government debt risk management,lack of cooperation mechanism of governments at all levels,inappropriate allocation and management of debt quota,conflicts of interest between governments at higher and lower levels,and inadequate supervision of government debt.The causes of debt risk management problems in Heilongjiang Province are analyzed in depth:lack of information disclosure system,unreasonable allocation of quotas,unclear responsibilities of governments at all levels,and imperfect supporting policies and systems.By summarizing the experiences of foreign governments in debt risk management in Japan,Canada and France,and domestic governments in Shandong,Liaoning and Hebei provinces.draw lessons from the government debt risk management to improve government debt information transparency,perfecting the government debt in relevant laws and regulations and build appropriate risk management network of successful experience.From the point of view of cascade network,this paper emphasizes the joint cooperation among various risk subjects.In view of the specific problems of government debt in Heilongjiang Province,it puts forward some suggestions to improve the level of government debt risk management in Heilongjiang Province,including the construction of government debt risk management system under cascade network,and the optimization of government debt risk prevention management in Heilongjiang Province,improve the administrative level of government departments and improve the system construction of government debt management.