China's local government debt scale what size is it? It is difficult to accurately answer this question.Due to the restriction of the budget law of the People's Republic of China,galvanized steel pipe manufacturers china at present our country is not allowed to directly in the capital market financing of local government. In issuing local government bonds by the ministry of finance, therefore, under the condition of small, local government in China's main financing model was established by the government of various financing platform to the society or borrowing from financial department issuing corporate bonds or debt of the project. And these repay or guarantee responsibility of local government debt, known collectively as government debt.
It is worth noting that the debt financing platform is often hidden and latent risk. According to the special of the people's bank of statistics, as of late 2009, the local government financing platform indebted amount is about 9.76 trillion yuan. Debt in the credit,60mm thick wall seamless carbon steel pipe points out that despite the local government financing platform, debt financing to relieve the tense situation of local government infrastructure construction funds have played a positive role, but also has some problems, such as: insufficient standard operation,API 5l X52 steel pipe and tube there are some government financing platform assets allocated at random, violate compasses guarantee, investment is not real, and so on and so forth; Some local governments use multiple financing platform or rely on land finance excessive borrowing, and is not included in the budget management, large-scale recessive debt may lead to the excessive expansion of local government debt. In addition, the local government financing platform for the debt financing cost is high, its interest rates much higher than the Treasury bonds issuing local government bonds, this just more pressure on limited financial capital formation.
According to the national audit office of previous audit results, at the end of 2010 the national local government debt balance 10. 7 trillion. And during the two sessions this year, according to the official audit, Chinese governments at all levels of total liabilities should be between 15 trillion yuan to 18 trillion yuan. The risk of local government debt has caused the attention of the top, the end of July, the national audit office has been under the state council's demand to audit authority to audit again for government debt, audit is wider, audit project is more fine.
So far, this round of audit results government debt has not been released. Some industry experts,JIS 5K Plate flanges however, gave his estimate. Researcher at the institute of Chinese academy of social sciences financial Liu Yuhui held in 16, local government credit rating, speaking at a conference pointed out that after he had done according to China's commercial Banks balance sheet estimates, China's overall debt in 2012, under the "growth" policy guidance, a new round of expansion of credit open, financial institutions leverage rises, in this case, the local government debt are expected to rise further, compared with the past. He estimated that if the bank credit in the table of the financing, bank financing platform as the financing channels of financing platform and B T construction between local government debt, put together, which is formed by the debt significantly beyond the level of 2010, has reached 20 trillion yuan, I'm afraid.
In debt issued credit ", the main body of local government credit rating method in China, points out that at present, the deepening of urbanization in our country is still at the stage, local government infrastructure financing demand is very big, is expected to keep annual investment in 4 trillion yuan to 5 trillion yuan, the local government revenue cannot meet the demand of infrastructure investment, is expected in the future will remain a lot of local government debt.
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