Key to Debt Problem 'Is Giving Local Gov'ts More Autonomy'
(Beijing) – The solution to addressing soaring local government debt is giving lower-level officials more autonomy, a researcher at a central government think tank says.
The key to the solution is matching local governments' rights to their obligations and establishing a self-restraint mechanism through which local officials are responsible for their own income and spending, Wei Jianing, a research fellow at the State Council's Development Research Center, said at an academic forum on local government debt last week.
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