Abstract:
After Socialism with Chinese characteristics has entered a new era, in order to lead the transformation of local government debt governance with humanistic values, it is urgent to complete the task of preventing and resolving the impact of hidden debt risk, promoting structural transformation and upgrading, and improving people’s wellbeing in highquality development. The implementation of the New Budget Law and the rapid development of digital economy provide reform opportunities for local government debt governance, but there are also multiple practical challenges. Based on the tasks, opportunities and challenges, to promote local government debt governance under the new development paradigm, China should coordinate development and security and achieve high quality economic development and sustainable local public finance through the adaptive expansion in the fields of debt investment and management performance improvement.
