To prevent "drumming and spreading flowers", Hunan requires strict control of debt risks: how much financial resources are needed to accomplish many major tasks, drumming and spreading flowers | mechanisms | government debt risks | persistence | debt | risks | problems | government
According to the Hunan Daily, during the special training class of the Provincial Party Committee and Provincial Government on June 6th, Shen Xiaoming, the Secretary of the Provincial Party Committee, demanded that when discussing the issue of debt risk, we must never eat too much food and overdraw the future, and resolutely prevent "drumming to spread flowers".
Official website image of Hunan Provincial People's Government
He emphasized the need to effectively shoulder the major political responsibility of preventing and resolving government debt risks, identify the root causes of problems from the perspective of development and political achievements, and face the problems politically and promote rectification. Proactively adapt to changes in the supply-demand contradiction of economic development, effectively establish new development concepts, and accelerate the transformation of development modes; We must adhere to doing our best and act within our capabilities, and never overestimate the future by spending too much money on tasks we have; Clarify the boundary between the government and the market, resolutely divest platform companies of their government financing functions, and strictly investigate and punish illegal borrowing, disguised fundraising, and other behaviors; Adhere to the principle of "new officials managing old accounts", curb increment and transform existing resources, resolutely prevent "drumming and spreading flowers", and avoid the spread and transmission of risks; Strengthen the idea of "living a tight life", strengthen the hard budget constraints of the government, and spend every penny on the cutting edge.
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Zhang Yijiong, the leader of the 10th Central Guidance Group, pointed out that special rectification measures should be carried out to address issues such as violating objective laws, engaging in "half hearted projects", "image projects", "face saving projects", and statistical fraud through borrowing. We should follow the example of each case and promote coordinated efforts from top to bottom. We should formulate improvement measures in policy guidance, supervision and supervision, plugging loopholes, and improving mechanisms, and ensure the implementation of rectification measures.
In terms of preventing and resolving government debt risks, Liu Wenjie, Secretary of the Party Group and Director of the Department of Finance of Hunan Province, wrote an article in May this year introducing that the financial system adheres to coordinated development and security, with a sense of responsibility of "always feeling at ease", and consistently strengthens government debt risk prevention and control. It is necessary to borrow appropriately, use debt effectively, repay debt actively, and manage debt in a legal manner to ensure that maturing debts do not default, risk areas do not explode, and public opinion events do not occur. Improve the normalized monitoring mechanism and never allow new projects or stalls to be established through the addition of implicit debt. Establish departmental collaboration and linkage mechanisms, and take multiple measures to promote the return of debt burden to a reasonable range. Strengthen the corporate governance of local government financing platforms and promote classified transformation and development. Grasp the relationship between government debt and people's livelihood security, comprehensively investigate and sort out "half hearted" projects, properly solve problems, and strive to win the trust of the people.