Local Government Debt Management Problem Reserach

Local governments could not borrow without an improvement from the central government according regulations up to nowadays in China.But actually most of local governments have public debt,and some of them are under going burdens of their debt.No limitations on borrow sources leads to public debt structure quite complicate.Having no a cap of debt size,a local government can borrow what size it want.There are few regulations or guides that are followed by local government.There are not regular reports on and disclosure of public debt,therefore it is out controls of central government and local parliament.This article firstly introduces principles of local borrows in terms of local government borrow motives and borrow uses.Secondly,it points out essential problems in local public debt management.Thirdly,it gives some strategy for solving the issues.