CAJ | 학술논문

中国公债的持续运行在拉动投资、促进经济快速增长中发挥了重要作用.然而,通过公债运行系统总况分析和对其各环节的具体剖析,公债运行存在着发行规模结构不当,公债使用效益低下,公债流通困难,最终导致财政偿还风险增加,这给国民经济稳定运行带来巨大的负面影响.因此,有必要建立公债风险预警系统,从风险识别、评估、报告到监督,实现宏观的监督与微观的指标双管齐下,适度控制公债发行规模扩张速度,减少公债发行成本,提高公债使用效率,增强还债能力,防范潜在的公共财政运行风险.
중국공채적지속운행재랍동투자、촉진경제쾌속증장중발휘료중요작용.연이,통과공채운행계통총황분석화대기각배절적구체부석,공채운행존재착발행규모결구불당,공채사용효익저하,공채류통곤난,최종도치재정상환풍험증가,저급국민경제은정운행대래거대적부면영향.인차,유필요건립공채풍험예경계통,종풍험식별、평고、보고도감독,실현굉관적감독여미관적지표쌍관제하,괄도공제공채발행규모확장속도,감소공채발행성본,제고공채사용효솔,증강환채능력,방범잠재적공공재정운행풍험.
The continuous operation of public debt plays a very important role in promoting investment and economic growth. Based on the analysis of the overall condition of the operation system of public debt and various specific links, the study finds that in the operation of public debt there exist such problems as improper scale and distribution, low efficiency and difficult circulation, which increase financial risks and brings great negative influences to the stable operation of the national economy. Therefore, it is necessary to establish a risk warning system of loan, including risk identifying, evaluating, reporting, and supervising mechanism, to realize the combination of the supervision of macroscopic and microscopic index. Measures can be taken to moderately control the size and expansion speed of public debt, to reduce the cost, to improve efficiency, to enhance the ability to repay, and to prevent the potential risks in the process of public financial operation.