武汉市地方政府隐性债治理成效及对策探究

Research on the Governance Effectiveness and Countermeasures of Local Government Hidden Debts in Wuhan City

摘要

本文聚焦武汉市地方隐性债务治理，分析了其规模突破万亿元、结构复杂且风险较高的现状，指出成因包括财政体制不匹配、地方政府竞争及金融机构不当创新等。武汉市通过加强债务监管、推进债务置换、优化债务结构及加强预算管理等措施，有效控制了隐性债务规模增长，降低了债务风险，并改善了经济发展环境。治理成效显著，债务规模得到有效遏制，债务风险降低，为地方经济可持续发展奠定了基础。然而，仍面临债务置换压力、城投公司转型困难及经济形势不确定性等挑战。本文总结了武汉市治理经验，提出了优化债务置换机制、加大城投公司转型支持力度及加强经济形势监测等对策建议，为其他地区提供有益参考。

Abstract

This paper focuses on the governance of local implicit debts in Wuhan City, analyzes the current situation where the scale exceeds one trillion yuan, the structure is complex and the risk is relatively high, and points out that the causes include the mismatch of the fiscal system, competition among local governments and improper innovation by financial institutions, etc. Wuhan has effectively controlled the growth of hidden debt scale, reduced debt risks and improved the economic development environment through measures such as strengthening debt supervision, promoting debt replacement, optimizing debt structure and enhancing budget management. The governance has achieved remarkable results, effectively curbing the scale of debt and reducing debt risks, laying a solid foundation for the sustainable development of the local economy. However, it still faces challenges such as the pressure of debt replacement, the difficulty in the transformation of urban investment companies, and the uncertainty of the economic situation. This article summarizes the governance experience of Wuhan City and puts forward countermeasures and suggestions such as optimizing the debt swap mechanism, increasing support for the transformation of urban investment companies, and strengthening economic situation monitoring, providing useful references for other regions.

关键词

武汉市 / 地方隐性债 / 治理案例

Key words

Wuhan City / Local hidden debt / Governance case

参考文献

[1] 陈思思 地方政府隐性债务风险及其化解研究—基于隐性债务违约案例分析[D] 苏州大学 2020.6.25

[2] 贾宪军 我国农村居民金融素养对农村金融稳定的影响机制研究[J] 中国市场 2019（24） 21-23

[3] 樊丽明 日本政府债务管理的审视与借鉴[J] 齐鲁学刊 2025[phone]

基金资助

武汉学院数智财务虚拟教研室阶段性研究成果，武汉学院重点科研项目：“深化政府债务管理改革与防范地方债务风险研究”(KYZ202302)