Beijing Lu Exposed The Local Debt Balance Of &Nbsp; The Debt Rate Was Far Below The International Warning Line.
Concerned
local
Debt risk, it seems, there are local differences.
A few days ago, some local governments announced the balance of local debts in their respective jurisdictions. From the perspective of Beijing and Shandong, although the local debt repayment also had too many national problems such as land revenue, the two governments did not seem too "upset".
Jia Kang, director of the Finance Department of the Ministry of finance, also stressed last month that the warning line which is 60% of the internationally recognized public sector debt to GDP is still very far away, and a large part of it is debt. Therefore, the local government debt in China is still within the scope of security.
However, following the first batch (two issue) of local government bonds issued by the Ministry of finance this year, the third year 3 year bonds issued in August 1st were determined by tender.
interest rate
Up to 4.07%, an increase of 0.14 percentage points over the previous period.
Shandong government debt rate is 46.15%
In the face of the local debt risk argument, Beijing and Lu have come up with real evidence to prove that the risk is controllable and far below the international warning line.
By the end of 2010, the balance of government debt in Shandong (excluding Qingdao) was 475 billion 219 million yuan, accounting for 4.4% of the total local government debt in the country.
The debt rate of local governments of Shandong and county level two, which is audited by the city of Hong Kong, is 37.44%, and the debt rate is 46.15% after the government has the obligation to guarantee liability.
This is far below the national level of 70.5%, while the international risk warning line is at the level of 80%~120%.
According to the data of Shandong provincial audit office, by the end of 2010, Shandong had used debt funds of 260 billion 95 million yuan, including 211 billion 176 million yuan for public utilities and infrastructure projects such as municipal public utilities, pportation and affordable housing, rural road and bridge construction, etc., accounting for 81.19% of the debt funds already made.
Huang Liming, deputy director of the Shandong provincial audit office, said that the debt scale was moderate and matched with the status of Shandong's big economic provinces and the speed of economic development.
According to the director of Beijing Municipal Audit Bureau, as of the end of 2010, the balance of government debt of Beijing (city and district) two level was 374 billion 545 million yuan.
In all debts, the government has the responsibility to pay.
debt
It was 317 billion 83 million yuan, accounting for 84.65%; the government guaranteed debt was 27 billion 902 million yuan; other debts amounted to 29 billion 560 million yuan.
The official also stressed that compared with the city's comprehensive financial resources, the local government of Beijing has a debt repayment rate of 61.71%, which is currently in the controllable range.
Finance and taxation expert Li Wenhai told the daily economic news reporter that the local debt problem mainly depends on two points: first, whether the debt scale is too large, and the two is whether the local borrowing is reasonable.
According to the provisions of the Ministry of finance, the scope of use of local debt mainly includes: affordable housing projects, rural livelihood projects, social undertakings, earthquake recovery and reconstruction projects, and so on, which is basically implemented in Beijing and Shandong.
Unlike outside voices, local officials tend to be more positive about local debt.
Wang Sanyun, governor of Anhui Province, told reporters recently that "a local government should at least invest in education, reconstruction of dangerous buildings, and road traffic.
Especially in rural areas, there are some roads that you don't repair. People have opinions. They want to build roads. What do they do without money? "
Establishing more debt reserve requirements
Although the local debt risk of Beijing and Shandong has not surpassed the warning line, it is not without any problem.
Among them, the problems of land finance and debt repayment are still unknown. However, local governments have been actively solving them.
There are unavoidable risks in local debt.
But the key lies in how we regulate and control risks within a controllable range.
Huang Liming said.
It is understood that in order to make Shandong fully aware of its "risk points", the audit office issued separate audit reports for its 15 cities and 118 counties, and limited the time to solve the problem.
The Beijing municipal government has also studied and drafted the Beijing Municipal People's government's opinions on strengthening the management of government debt, clarified the responsibilities of departmental management, and called for strengthening the risk control of debt raising, management, use and reimbursement of government debts.
In addition, Shandong, Shaanxi and many other places also set up a debt reserve system. At present, 10 cities and 27 counties in Shandong have set up a debt reserve system. Every year, a certain amount of funds is extracted from the financial revenue as a reserve. At present, the debt reserve requirement has reached 7 billion 127 million yuan.
Fiscal revenue is too dependent on selling land. It is also a big problem.
But as for the topic of land finance, Wang Sanyun also has his own understanding as a "father official" in Anhui province.
He said that the funds obtained through auctions depend on how you use them. If used in urban development and economic development, especially in the improvement of people's livelihood, this pattern may still exist for a period of time, and there is no better way to replace it.
In Shandong, there are still 13 cities and 55 counties whose debt repayment is more dependent on land revenue.
By the end of 2010, the debt balance of the local government with the obligation to repay the debt was 57 billion 568 million yuan, which accounted for 41.47% of the related debt balance.
Li Wenhai warned that land finance can alleviate local debt.
crisis
It can also serve the people's livelihood, but the key is pparency.
If its proportion is too large, it will definitely affect the financial health.
- Related reading

The Lowest Price Online Exposes The Profit Margins Of Various Industries, With Clothing As High As 55% Cash.
|- Company news | The First One To Set Up Factories In The United States, How Did This Cotton Leading Enterprise Fare Under The Trade Friction?
- News Republic | The Number Of Gap Brands In China Has Reached 200 Breakthroughs For The First Time.
- neust fashion | Milk Tea Air Jordan 4 "Mushroom" Will Be On Sale Soon!
- Fashion shoes | Nike Air Max 97 Shoes New "Green Glow" Color Matching Release
- Fashion brand | Alfa Industrial X EVISUKURO 2019 Joint Series Is About To Debut, Uniform Street.
- Expert commentary | After The Mid Autumn Festival, The Purchase Price Of New Cotton Rises Everywhere To Boost The New Cotton Market.
- Expert commentary | Dye Prices Rose Again, Polyester Raw Materials Decline In The "Golden Nine Silver Ten" Market Is Not Promising.
- Daily headlines | "I Haven'T Been So Happy For Many Years!" See How Honghe Stirred Up The "Initial Heart" Of The Sweater.
- Daily headlines | Saudi Arabia Gives A Timetable For Resumption Of Production. Demand Is Not Strong, PTA And MEG Are Beginning To Shiver.
- Fashion shoes | New Hundred Lun X Bodega Joint Shoes New "No Bad Days" Color Matching Landing At The End Of The Month
- Britain's Economy Grew By 0.2% In The Second Quarter.
- France'S Consumer Confidence Index Unexpectedly Rose In July
- He Hongyi: From The "Stall Guest" To The "Store King" Financial Intelligence Life
- Tanabata Internet Popular Products: Sweet, Wild, Pointy High Heels
- A Pair Of Scissors To Witness The Fashion " Transform "
- T-Shirt, A Unique Way To Declare.
- Us Shoe King Zappos To Create A Caring Service
- 2011 The Internet Conference Held In Beijing Shows Ten Highlights.
- NBA Star Li Li Jordan&Nbsp; Brand Flying Journey Frenzy
- Yucheng To Build Henan'S Largest Garment Export Base