and a breakthrough billion mark. But

this year, the Beijing Shanghai and other 10 will pilot the local government bond is also. The reporter learns 21 days, the Ministry of Finance issued a "local government bonds in 2014 of spontaneous self also pilot approach", it will expand the autonomy of local government bond issuance, be regarded as China's further standardize the important action of local government borrowing, exploring the market bonds.

The official release of

10 released from from

reportedly, approved by the State Council in 2014, Beijing, Shanghai, Zhejiang, Guangdong, Shenzhen, Jiangsu, Shandong, Jiangxi, Ningxia, Qingdao pilot of local government bonds is also. The so-called spontaneous self also, the Ministry of Finance said, refers to the pilot area in the State Council Cheap Florida State Seminoles Jerseys approved the issue size limits, self organization mechanism of local government bond issuance, the payment of interest and repayment of principal.

according to the "pilot approach", the pilot areas the issuance of government bonds will implement the annual issuance management, the issuance Cheap Oklahoma Sooners Jerseys of bonds shall not exceed the total approved by the State Council in the debt scale limits. 2014 year bonds scale limit is effective in the current year, shall not be carried forward to the next year. At the same time, the pilot area government bond issue into account type fixed rate coupon bond. In 2014 the government bonds for a period of 5 Cheap Penn State Nittany Lions Jerseys years, 7 years and 10 years, the proportion of 4:3:3 structure.

in addition, the Ministry of Finance said, pilot areas need to bear the debt servicing liability, it shall establish a debt security mechanism, in order to maintain the credibility of the government.

background of

The more flexible

determine the

interest rate

it is reported, in 2009 China launched the Ministry of Finance on behalf Cheap Southern Miss Golden Eagles Jerseys of generations of local government bonds in 2013, the Ministry of finance pilot spontaneous generation is local government bonds this year, for the first time the spontaneous pilot local government bonds since also. The evolution of the model, so that the local government to issue bonds of autonomy in the controllable range expanded. For example, the pilot will enable local governments to the adoption Cheap Tennessee Volunteers Jerseys of a more flexible underwriting or independent bidding to determine the bond interest rate.

however, Treasury Department said, local government bonds and local government debt are not two different concept. It is reported, the local government bonds are usually refers to the fiscal revenue of local government bonds. Local government debt is the local government as the debtor, the spending more than their income by the formation of the deficit sum, is a stock concept, including the recessive debt responsibility explicit liabilities and governmental moral.

Beijing landing

This year

issuance is expected to break the tens of billions of

reporter yesterday from the Finance Department of Beijing city to understand, this year the city of Beijing local government bonds issued amount is expected to increase somewhat than last year, and a breakthrough billion mark. But, said the municipal finance department, the pilot area government bonds shall be in the national inter-bank bond market, the stock exchange bond market listed transactions, and unlike bonds as a direct sale for individual.

the reporter understands, this city through the issuance of local government bonds to obtain funds, most will for the people's livelihood areas or local public facilities.