后金融危机时期的地方政府债务融资风险管理

Risk Management of the Local Debt Financing during the Post-financial Crisis Period

后金融危机时期,地方政府债务融资面临的宏观环境发生了深刻变化。货币政策、房地产市场调控政策和投融资平台治理政策的效应逐渐显现。地方政府债务融资风险管理面临巨大的挑战,必须改革地方政府投融资平台的经营机制、管理机制和应急机制,全面构建地方政府债务融资风险管理的长效机制,才能有效应对后金融危机时期的新变化。

During post-financial crisis period,substantial changes have taken place in the macro environment which the local government faces.The policy effect is initial already show,including monetary policy,treatment policy of estate market and financing platform.The risk management of local government debt financing is facing a huge challenge.Therefore,we must reform the operating mechanism,Management mechanism and emergency mechanism of local government investment and financing platform deeply,and the long-term mechanism must be constructed to manage the local debt to adapt the development of the new situation.