地方政府债务规范管理下政府投融资的发展方向

Orientation of Government Investment and Financing under the Standardized Management of Local Government Debt

长期以来,地方政府投融资在促进国民经济发展过程中发挥了巨大作用,但是地方政府债务规模急剧膨胀的同时,也累积了一定的金融风险。在国家供给侧结构性改革的大背景下,地方政府投融资的运营模式亟待转型。本文通过论述地方政府投融资所面临的必然趋势,梳理地方政府投融资的模式,简评现行有关规定和分析目前存在的主要问题,探讨在地方政府债务规范管理下未来政府投融资的发展方向。

Since long, local government investment and financing has played an important role in improving national economy. But along with the expansion of local government debt, the financial risk can also not be ignored. In respect of national supply-side reform background, the operation mode of local government investment and financing need a change. This paper studies the trend of local government investment, sorts out the mode of local government investment, discusses the situation and main problems nowadays and explores orientation of government investment and financing under the standardized management of local government debt in the future.