Continue to resolve local debt risks.
Jin Guanping. Recently, the executive meeting deployed to further prevent and resolve local debt risks, emphasizing the need to accelerate the establishment of a first-class debt management mechanism that is compatible with high-quality development, and gradually resolve local debt risks in high-quality development.
The prevention and resolution of local debt risks is related to the overall situation of economic and social development, and is an inherent requirement for coordinating development and security. To this end, it is necessary to actively and prudently prevent and resolve local debt risks, and firmly guard the bottom line of no systemic risks. In recent years, in accordance with the national decision-making and deployment, all localities have adhered to the stock to curb the increase, solidly promoted the resolution of local debts, and achieved positive results in the disposal of local debts.
At present, the scale of local implicit debt is gradually decreasing, and the debt risk has been alleviated as a whole. Overall, the risk of local debt is controllable. At the same time, from a national perspective, the distribution of local debts is uneven, and the scale of implicit debts in some places is still high, facing greater pressure to repay principal and interest, and the risks still cannot be ignored. It is necessary to persistently advance the tackling of tough problems and further promote the implementation of the package of debt solutions.
Doing a good job in preventing and resolving local debt risks will promote sustainable fiscal development, promote the stable and healthy operation of the economy, and effectively promote high-quality development. **The Economic Work Conference emphasized that "it is necessary to coordinate and resolve risks such as real estate, local debt, and small and medium-sized financial institutions" and "coordinate the resolution of local debt risks and stable development". * The financial work conference also called for "establishing a long-term mechanism for preventing and resolving local debt risks, and establishing a first-class debt management mechanism that is compatible with high-quality development." "A series of important deployments highlight the urgency and importance of preventing and resolving local debt risks.
To prevent and resolve local debt risks, it is necessary to pay attention to the combination of far and near, the simultaneous treatment of plugging and sparseness, and treating both the symptoms and the root causes. Open the "front door", reasonably arrange the new local ** bonds, and manage and make good use of the new bond funds; Strictly block the "back door", curb illegal debt financing, strengthen risk source control, harden budget constraints, control the financial "floodgate" of new project financing, and strictly prohibit illegal disguised debt for local governments. At the same time, strengthen the corporate governance of local first-class financing platforms and curb new hidden debts.
To prevent and resolve local debt risks, we must focus on the construction of long-term mechanisms. On the basis of risk mitigation, efforts should also be made to establish a first-class debt management mechanism that is compatible with high-quality development, and optimize the first-class and local debt structure. It is necessary to deepen the reform of the fiscal and taxation system, increase the intensity of transfer payments, and improve the local tax system. Promote the consolidation and supervision of local ** debts, and establish a unified long-term regulatory framework. At the same time, all localities should also promote the steady recovery of the economy, create favorable conditions for resolving debt risks, and gradually alleviate or resolve risks in the course of development.
To prevent and resolve local debt risks, it is also necessary to improve the supervision and accountability mechanism and maintain a high-pressure regulatory posture. Previously, some localities and leading cadres failed to implement orders and prohibitions, resulting in the occurrence of new hidden debts, false debts, and false debts, which affected the effectiveness of the prevention and resolution of local debt risks, and were seriously held accountable and reported. In the next step, it is necessary to continue to implement the requirements for lifelong accountability and reverse investigation of hidden debt problems, strengthen accountability, and make discipline truly a charged "high-voltage line".
Editor-in-charge: Wang Shidan |Review: Li Zhen |Supervisor: Wan Junwei.
*: Economy**).