“三大攻坚战”之防范地方政府债务风险的思考

Thoughts on Preventing Local Governments’ Debt Risk—One of the “Three Critical Battles”

我国地方政府债务增长过快、规模巨大,缺乏有效融资渠道,偿债风险突出且管理模式不规范。地方政府债务形成原因是多方面的,如财政体制因素造成地方政府举债,投资拉动型的经济发展模式所致,地方政府的考评机制不完善等。为防范与化解地方政府债务风险,应改革财税体制,将财权与事权相匹配;改革考评机制,实行终身问责制;依法偿债,规范地方政府债务偿还机制并建立地方政府债务管理机构。

China's local governments are having more and more debts at present,which are increasing rapidly,but the governments do not have effective financing channels,so they have prominent risk in paying back the debts,partly due to the unstandardized management mode.There are many reasons for the phenomenon,including the unsound fiscal system,investment-driven economic development mode and imperfect assessment mechanism on the local governments.In order to prevent and resolve local governments’debt risk,we should reform the fiscal and taxation system,so that the financial power and responsibility match each other well;we should also reform the examination and evaluation mechanism and implement a life-long accountability system;and pay back the debts in accordance with the law by standardizing the local government debt repayment mechanism and establishing local government debt management institution.