摘要
Recently,China's local government debt has received widespreadattention,and the discussion on local government debt tends to lead to the assessment of thegovernment's fiscal condition.Over the past years,the government's capacityto increase revenuehas been curbed duetotaxand-fee-cut policy,the economic downturn,and the slide in the real estate market.In this context,there are increasing concerns regarding fiscal deficits and the risks associated with debt.
