最近有媒体报道,中国将继续完善中央政府代理发行地方政府债券制度,并研究探索由地方政府自主发行债券的可行性;还有报道称,部分东部发达省市将试验介于中央政府代理发行和地方政府自主发行之间的过渡形式,即由中央政府规定发债规模和利率区间,让部分地方政府自主发债。此后,一些媒体就此发表了一些观点,主要讨论了中央财政与地方财政的关系、地方政府发债的信用担保和偿付能力、地方政府债券的效应及风险等。其中有些论述对地方政府债券的性质、作用、偿付机制、信用风险等要素的理解不甚准确,容易引起误解。有必要从金融知识普及角度对这一论题进行通俗、准确的解读。 Recently, media reports said that China will continue to improve the central government agency to issue local government bond system and explore the feasibility of issuing bonds independently by local governments. It is also reported that some developed eastern provinces and municipalities will experiment between the central government agency issue and The transitional form between the autonomous issuance of local governments means that the central government stipulates the size of the bonds to be issued and the interest rate range so that some local governments may issue bonds on their own. Since then, some media published some opinions in this regard, mainly discussing the relationship between the central finance and local finance, the credit guarantee and solvency of local governments issuing bonds, the effects and risks of local government bonds and so on. Some of these statements are not accurate enough to understand the nature, role, reimbursement mechanism, credit risk and other factors of local government bonds, and are easily misunderstood. It is necessary to make a general and accurate interpretation of this topic from the perspective of the popularization of financial knowledge.