INNOVATIONS IN THE SUSTAINABLE MANAGEMENT OF LOCAL GOVERNMENT LIABILITIES IN CHINA

Jinchuan Shi (), Zhikai Wang () and Xiaojiang Wang
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Jinchuan Shi: Center for Research of Private Economy, Zhejiang University, 38 Zheda Road, Hangzhou 310027, China
Zhikai Wang: #x2020;School of Economics, Zhejiang University, 38 Zheda Road, Hangzhou 310027, China
Xiaojiang Wang: #x2021;Timmy Community Service Centre, No. 460 Miyun Road, Yangpu District, Shanghai 200092, China

The Singapore Economic Review (SER), 2018, vol. 63, issue 04, 819-837

Abstract: Through the first and second year of China’s 13th five-year plan coincided with local governments holding their own “Two Sessions” before attending the “Two Congresses” in Beijing in March. As one of the frequent results, the issue of local government debt naturally became a popular topic. The scale of local government debt in China was/is considerable, and the structure is complex, which poses a threat to sustained economic development. To address this situation, China must regulate local government debt, clean up urban financing vehicle debt, foster and manage the local bond market, and introduce innovation in the management of local government liability. Only through initiatives such as this will China gain control of local government debt and thus support and promote the long-term sustainable growth of the economy.

Keywords: Financial credit; local government debt; local bonds market; new budget law; sustained management (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (5)

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DOI: 10.1142/S0217590817420115

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