20 14 1 1.4 The relevant person in charge of the Ministry of Finance clarified the scope of government debt, and made it clear that after the newly revised budget law of 20 15 1 came into effect, the debts borrowed by financing platforms did not belong to government debt according to law.

At present, the scope of local government debt in China refers to local government bonds issued according to law, and the government debt existing in the form of non-government bonds at the end of 20 14.

Explanation:

After the implementation of the new budget law, the debts borrowed by local state-owned enterprises (including financing platform companies) are not government debts according to law, and state-owned enterprises are responsible for repayment, while local governments are not responsible for repayment; As the investor, the local government bears limited liability within the scope of capital contribution.