A: The new budget law, local governments should borrow through the issuance of government debt bond

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How replacement for the stock of debt of local government bonds, the Treasury said replacement bonds by the provinces, autonomous regions, municipalities, municipalities spontaneous self also, the local financial sector organizations bonds issued in accordance with market principles, to carry out information disclosure and credit rating .
A: The new budget law, local governments should borrow through the issuance of government debt bonds. "State Council on strengthening local government debt management advice" (Guo Fa [2014] No. 43) provides that, in the budget management of the stock of debt local governments can issue a certain amount of local government bonds substitution. Local government cuisine debt is the stock of the implementation of the new budget law before the formation of a certain scale government bond replacement portion of the debt, is an effective way to regulate the management of the budget, will help protect not broken in the construction project financing and capital chain, cuisine deal to resolve cuisine the debt and steady relationship growth, but also help optimize the debt structure, cuisine reduce the burden of interest, some local spending pressures ease, but also for the local part of the funds used to make other expenditures to create conditions to increase.
A: The State Council approved the Ministry of Finance to release one trillion yuan of local bonds the amount of replacement stock of local government debt, displacement range is 2013 government cuisine debt audit determined cuisine as of local government June 30, 2013 bears the responsibility to repay the debt stock in due 2015 to repay part. This part of the debt has been audited and confirmed to the NPC Standing Committee report. Before the procedures, the amount of bonds issued to local, our department specialized agencies to the NPC for the communication report, issued after the bond amount, and in a timely manner to the relevant bodies of the NPC filing.
A: According to the spirit of the new budget law, in order to further strengthen the local debt obligations, cuisine the replacement of the stock of debt of local government bonds (hereinafter referred to as replacement bonds) by the provinces, autonomous regions, municipalities, municipalities spontaneous self also, subject cuisine to the issuance and repayment of the provinces, autonomous regions, municipalities, cities municipalities. Local financial sector organizations in accordance with market principles offering of the bonds, to carry out information disclosure and credit rating, the Ministry of Finance will issue the relevant management practices of local government bonds, to increase the country's guiding efforts to promote local government bond issuance work smoothly.
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