May 22, 2021 05:35 PM (GMT+8) · EqualOcean
Xiao Gang, former chairman of China Securities Regulatory Commission, said at the 2021 Tsinghua Wudaokou Global Financial Forum on May 22 that the role of local governments in guiding funds should be further enhanced. In order to prevent and resolve the risk of local government debt, we should deal with the relationship between incremental debt and stock debt. We should not only play the role of incremental debt in promoting economic and social development, but also pay attention to preventing the risk of excessive accumulation of stock debt. More new debt will be invested in new infrastructure, which will play an important role in economic growth and quality improvement. We should further adjust the structure of existing debt and improve its efficiency.