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Research on The Sustainability and Rapid Growth of Local Government Debt

In: Proceedings of the 2026 11th International Conference on Financial Innovation and Economic Development (ICFIED 2026)

Author

Listed:
  • Zhilong Li

    (Shandong University of Science and Technology, Financial Engineering Research Institute)

  • Zijie Wang

    (Shandong University of Science and Technology, Financial Engineering Research Institute)

  • Xiangrong Wang

    (Shandong University of Science and Technology, Financial Engineering Research Institute)

Abstract

As an important source of local government finance, the malignant expansion of debt financing has become a pressing fiscal issue that China must urgently address. Through literature analysis and data comparison, this paper reveals the current state of debt growth and the resulting social problems, providing an in-depth examination of the urgency to curb its malignant expansion. The findings indicate that the sustainability of debt financing faces severe challenges. The paper proposes practical and feasible recommendations for the government to mitigate the excessive growth of debt through financial instruments such as asset securitization and asset leasing, with the aim of maintaining the sustainability of local debt financing and preserving fiscal balance.

Suggested Citation

  • Zhilong Li & Zijie Wang & Xiangrong Wang, 2026. "Research on The Sustainability and Rapid Growth of Local Government Debt," Advances in Economics, Business and Management Research, in: Xiongfeng Pan & Huaping Sun & Abdul Rauf & Md Rabiul Islam & Liew Chee Yoong (ed.), Proceedings of the 2026 11th International Conference on Financial Innovation and Economic Development (ICFIED 2026), pages 350-364, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6239-642-5_36
    DOI: 10.2991/978-94-6239-642-5_36
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