1, the boundary between state-owned enterprises and local government debts. Implement the central government's requirements for the transformation of local government financing platforms, strictly distinguish the boundaries between local state-owned enterprises and local government debts, moderately allow local state-owned enterprises to default, and strengthen the education of investors;

2. The Ministry of Finance has been monitoring the debt risk of local governments. At present, the problems existing in local government debt management include: the overall solvency of local governments has declined, and the debt risk in some areas has increased; Local government violations or disguised debt guarantees still occur; Irregular PPP mode, etc. For these problems, the relevant departments are urging local and relevant financial institutions to take measures to solve them;

3. Introduce long-term fund providers. Local government bonds and local infrastructure projects can introduce mature institutional investors and individual investors with stable risk appetite, especially long-term fund providers;

4. Establish a government financing guarantee fund. The central government can encourage local governments to set up government financing guarantee institutions, or government financing guarantee funds, or local industrial development funds, make full use of the capital market to provide sufficient funds for local government infrastructure projects, and better support the sustainable development of regional economy;

5. Appropriately increasing the issuance scale of national debt and local government bonds is an important measure for the government to regulate and leverage according to law, which can avoid the negative impact of the debt contraction of the whole society on the economy. With the gradual decline of the leverage level of the whole society, the leverage of the government can also be gradually released.

Extended data:

Establish and improve the debt risk early warning and emergency response mechanism, inform the relevant departments and provincial governments of the results of risk assessment and early warning, and urge high-risk areas to raise funds through multiple channels to resolve debt risks.

Incorporate local government debt into budget management. The Ministry of Finance issued the budget management measures for general bonds and special bonds, adjusted the classification subjects of government revenue and expenditure, comprehensively reflected local government debts in the draft national budget of 20 16, and instructed local governments to reflect government debts in the draft budget of 20 16 and the budget adjustment plan respectively, and actively accepted the supervision of people's congresses at all levels;

The local government debt risk in China is generally controllable. Measured by the internationally accepted debt ratio (debt balance/comprehensive financial resources), the debt ratio of local governments in 20 15 is 89.2%, which is lower than the internationally accepted early warning value.

It should be noted that, unlike countries with debt crisis, China's local government debt has formed a large number of high-quality assets corresponding to the debt as debt repayment guarantee, and China's economy will maintain medium-high growth in the future, which also provides a fundamental guarantee for debt repayment.

China. com-Ministry of Finance: Seven measures to standardize local government debt risk management.