中国省域地方政府的债务负担分析

Analysis of Debt Burden of Local Governments in China's Provinces

基于2020年我国31省域地方政府的财政收支和债务负担数据,分别从债务规模和相对债务率视角对我国地方政府的债务负担现状进行研究,并进一步分析各省域地方政府在一般债务和专项债务方面的负担特征.结果表明:(1)我国省域地方政府的整体债务负担可控,但地区和省份间的差异明显,债务负担整体呈现出东中西递减的规律,北京、上海等经济发达地区的债务负担最小,西藏、青海等西部地区的债务负担最重;(2)从一般债务负担来看,东部省份的一般债务率最低,西部省份的一般债务率最高,其中青海、贵州等地的一般债务率较高,公共财政自给率也较低;(3)从专项债务负担来看,东部地区的专项债务负担率和专项债务比重均高于中西部地区,江苏、浙江等地通过出让国有土地使用权获得的收入较多,对应的专项债务率也较低.基于上述结论,分别从提升债务治理政策针对性、增加转移支付力度和提升财政资金利用效率等方面给出相应的政策建议.

Based on the data of fiscal revenue and debt burden of local governments in 31 provinces of China in 2020,from the perspective of debt scale and relative debt ratio,this paper studies the local governments’situation of debt burden and further analyzes the burden characteristics of general debt and special debt.The results show that:(1)the overall debt burden of local governments in China’s provinces is controllable,but there are obvious differences between regions and provinces.The overall debt burden shows a law of decreasing from east to central and west.The debt burden of Beijing and Shanghai is the smallest,while that of western provinces such as Tibet and Qinghai are the heaviest;(2)From the perspective of general debt burden,the eastern provinces have the lowest general debt ratio and the western provinces have the highest general debt ratio,among which Qinghai and Guizhou have higher general debt ratio and lower self-sufficiency rate of public finance;(3)From the perspective of special debt burden,eastern provinces are higher than western regions.Jiangsu,Zhejiang have more income due to the transfer of state-owned land use rights,and the corresponding special debt rate is also lower.Based on the above conclusions,this paper puts forward corresponding policy suggestions from the aspects of debt governance policies,increasing the intensity of transfer payments and improving the efficiency of financial capital utilization.