China's Local Government Debt Governmence:Short-Term Objectives and Long-Term Mechanism

Recently,the problem of local government debt has emerged in China.In fact,local financing platform companies and their debts are just manifestations of the present stage of this problem.The deep-seated reasons could be explored from the supply and demand of local government financial resources.Based on the status quo of China's local government debt,this study suggests the main logical line of standardization after cleaning up.The short-term goal is to clean up the local financing platforms and their debts;In the long run,the long-term mechanism of strengthening local government financial resource construction and standardizing local government debt management should be established.