1. In a broad sense, local bonds generally refer to special bonds issued by local governments or urban investment bonds issued by platform companies actually controlled by local governments;

2. The bonds issued by local governments themselves are generally subscribed by banks, because the yield is too low, and banks are likely to be assessed. However, with the risk weight of local government bonds reduced to zero recently, the attractiveness to banks should increase significantly.

3. The subscription institutions for urban investment bonds issued by platform companies are generally all kinds of investment institutions, such as asset management companies, banks, insurance and funds.

4. In addition to bonds and other forms, it can also be in the form of direct loans, and loans should also be the largest part of local bonds. Besides loans and bonds, platform companies can also issue trusts and take financial leasing, which accounts for a relatively small proportion, but the absolute amount is also very large.

5. The reason for controlling local debt is that the debt must be paid back when it is due. If it is not paid back, the institution that lent you money will have to make provision for losses. If the losses reach a certain level, it will go bankrupt, financial institutions will go bankrupt, and other entities that operate normally will no longer be able to borrow money, and everyone will die.

6. The printing press has been overloaded, and the price increase is still obvious in recent years. Look at the price of a bowl of Lanzhou Lamian Noodles in 28 and 18.

7. country a can't afford to borrow money from country b, which is equivalent to breach of contract and international credit bankruptcy. refer to the case of Argentina's default on American debt. It's miserable anyway.