dollars place debt to expire

The coming two year half is close to 570,000,000 dollars place debt to expire
【The wealth new net (apprentice reporter Xing Yun)】this year to the end of 2013, also namely the coming two year half time inside, the obligation of each local government gets into liquidation high peak.

Audit the office national local government obligation to audit to suggest as a result from repaying debt a year to see, expire the obligation of liquidation for 2011-2013 years to take up 24.49% of the total amount respectively, 17.17% and 11.37%, add up to have 53% around.LED lighting positive

“The obligation that about there are 5.7 dollars expires inside the half at the coming two year and repay debt pressure very big.”The Hongkong Bank big China area chief economist bends great Bin(column) to remind like this.

Owe debt level ascension to combine the balance sheet depravation of meaning the local government is not necessarily.For all that, still keep existing some serious problems.Bend great Bin to think most among them of be lack clarity, and these expiring of obligation the term is short and invest the not matching of of item recall period over a long period of time.

“If there is no actual activity to the words of reorganizing these obligations, in the future several year, the bank will face the actual risk of obligation default.”Bend great Bin to think, initiating a municipal services debt the issue is urgent, the any holds may implicate bank and make the risk become doubly extension.

In 10.72 dollar debt surplus amounts in the place, it is a bank loan to be close to 80%, 50% is 2008 raise to borrow.

Societe Generale experienced economist Lu government Wei(column) puts forward, the essence of margin terrace problem BE:How inspect a control place to raise a loan legal power, how the compulsive local government repay debt an obligation.”These two problems doesn’t understand definitely and allows a hair debt, only increased a path that lends money and excessively incured debt and escapes the problem of discarding the debt to still continue to pile up one after another later on.”

Deliver a debt now certainly, be advantageous to alleviating to at present concentrate to repay debt, government public finance mobility problem of the shortage.He said that enhanced local government to repay debt an obligation, the margin terrace problem would become the chance that pushes forward system reform:Make the local government turned to make the place country property for holding repaid debt;After delivering debt avoided escaping to discard a debt a loan to transfer bond to sign good norm from the bank letter for the government in futureDay Abraham.

This time audit is divided into obligation according to the law responsibility corpus:The government carries the obligation that compensate the responsibility, the government carries to guarantee a responsibility of or have obligation, may undertake with government certain salvage responsibility of other related obligation is 3 types.The audit suggests that these having of three types of obligationses scores don’t be 62.62%, 21.80% and 15.58% as a result.

According to The Xinhua news agency report way, audit a national local government obligation auditing leadership group of office vice- director, Chen Chen Zhao, in the office mean while answering a reporter to ask on June 27:”Want and peg out the obligation of congeniality to can not carry the obligation of guarantee or salvage responsibility to the government and all in brief see as the government direct obligation not, the risk of otherwise probably artificial extension government obligation.”

Ministry of Finance public finance science vice- bureau chief Liu in the graduate school still hope to say to the wealth new reporter, “the obligation affirm of the standard is very important.The concept that so-calledly carries to compensate a responsibility has a little unclear not pure, the guarantee is to carry to compensate a responsibility, is conditioned liquidation responsibility.To make to know these obligations while concretely analyzing which is unconditional, which is have a condition, this is very important, otherwise may cause the guess of the government Dou bottom.”

From borrow funds source to see, at the end of 2010 in the local government obligation surplus amount, the bank loan is 8,467,999,000,000 dollars and have 79.01%.

Chen Chen Zhao also means that if only and in brief according to the obligation scale, increase speed etc. index sign, can not accurately judge obligation risk completely degree.Only carry on obligation surplus amount and the government controllable public resources contrast, be these resourceses is not enough to compensate existing obligation, just meant to produce an obligation crisis.

Chen Chen Zhao said that total see, the Chinese local government obligation burden hasn’t outrun it repays debt ability.However, the audit discovers, the obligation liquidation of parts of regions offers for sale the dependence of income to the land bigger, some obligation scales of regions, profession are more big, the obligation burden is more heavy;In order to repaying debt ability shortage, some local governments can pass to raise to lend a new debt liquidation an old debt, the some places still appeared overdue obligation.

The wealth is new 《new century 》weekly magazine the cover article on June 27 《did the default start?》Announce to public, April, this year, development in province highway in Yunnan invests limited company to deliver a letter toward the creditor bank and means “this very day pays interest not to recover capital invested since”.But that company be close to 100,000,000,000 dollars at the more than ten bank loans surplus amount

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