Research On The Healthy Development Of The PPP Model From The Perspective Of Government Debt Management

In order to develop the local economy,local governments are investing more in public infrastructure and services than they can earn.As a result,local governments are running out of revenue to cover their expenditures.In order to control the scale of local government debt and reduce the risk of local government debt,the Chinese government has started to encourage the use of PPP model,introduce social capital to build public infrastructure and improve service efficiency.After no.43 document was issued in 2014,PPP projects have mushroomed all over the country.However,the reality is that the PPP project has a high warehousing rate and a low landing rate.With the emergence of problems of local governments' use of PPP mode for disguised financing,private equity and real debt,people question whether PPP mode will increase the risk of government debt.In addition,in recent years,some local governments have even started to stay away from PPP mode due to the restrictive normative policies issued by the government for PPP mode.By analyzing its background of local government debt,the PPP mode in recent years,the development status in our country,summarizes the common problems in using the PPP mode,and the healthy development of the PPP mode to resolve local government debt and improve the efficiency of public infrastructure construction and service of a positive role,affirmed the necessity of the development of the PPP mode.From the perspective of fiscal subsidies,this paper analyzes how improper use of PPP model causes local government debt,and studies the causes of local government debt risk caused by improper use of PPP model.Through the analysis of PPP projects in grassroots counties and baotou metro,it is found that non-standard PPP projects will increase the risk of local government debt.Carry out top-level design,financial innovation,financial rationing and intermediary organization innovation for the healthy development of PPP mode,and formulate implementation path and safeguard measures for the four mechanisms.