围绕地方政府融资平台债务的研讨，将焦点集中于商业银行等金融机构的贷款风险。但地方政府融资平台债务的问题，实际上是一个财政体制问题。在中国，财政体制是一个集权体制，地方财政承担的各种债务最终由中央财政负责清偿。从这个意义上说，所谓“地方政府融资平台”的债务问题，实际上是财政体制内的中央与地方关系问题。在解决“住、行、学”供给过程中，各地方政府已改变了原先在争工业项目中存在的竞争关系，毕竟中央部门并不直接管理各地方的城镇化建设，要缓解由“住、行、学”供给短缺引致的种种经济社会矛盾，还要靠各地方政府自己想办法。在可获得的资本性资金极为有限的条件下，借债建设就是一个必然的选择。另一方面，在经济体制机制改革深化的过程中，由中央部门下发给地方政府管理的事务不断增加，引致地方政府需要使用资金来解决的问题越来越多，但与此同时，中央部门下放给地方政府的财力并没有随之同步配套增加，这引致了地方政府在解决或完成各项事务中的资金捉襟见肘，借款过日子也就成为一个没有办法的办法。

Around the local government debt financing platform for discussion,Focus attention on the commercial Banks and other financial institutions loans risk.But the local government financing platform debt problem,Is actually a financial system.In China,Financial system is a centralized system,Local finance assume all kinds of debt finally by the central financial authorities responsible for liquidity.In this sense,The so-called"The local government financing platform"Debt problems,Is actually in the financial system of the relationship between the central and local problems.In solving"live/line/learn"Supply process,The local government has changed the original in industrial projects for existing in the relationship between competition,After all the central department does not direct management of the local urbanization construction,To alleviate by"live/line/learn"Supply shortages caused by a variety of economic social contradictions,You have to rely on the local government to find our own way.In the available capital fund limited conditions,Debt construction is a inevitable choice.On the other hand,In the economic system in the process of deepening reform of mechanism,Under the central departments to local government management affairs increasing,Cause local governments need to use money to solve the problem more and more,But at the same time,The central authorities transferred to local government financial and no then synchronous supporting increase,This lead to the local government in solving or complete all affairs of rebuilding the funds,Borrowing life will become a no choice.

　　在今后城镇化进一步推进过程中，地方政府性债务还将随着项目建设规模的扩大而增加。由此，提出了一个两难问题：要减少地方政府性债务，就难免减少对公益性和准公益性项目的投资，由此将引致本来就已严重短缺的教育、医疗、道路、水电等一系列的供给更加短缺，给经济社会发展和民生问题解决造成更大的困难；或者加大对这些方面的投资，由此将引致地方政府性债务进一步增加。何去何从？理论上如何回答也许还可继续探讨，但重要的是，实践处于“时不我待”之中，必须抓紧时间予以明确的选择。

In the future urbanization further process,Local government debt will also with the scale enlargement of the project construction and increase.this,This paper puts forward a dilemma:To reduce local government debt,We are likely to reduce the welfare and quasi commonweal project investment,This will cause was already serious shortage of education/medical/road/A series of water and electricity supply more shortage,To economic society development and the livelihood of the people problem solving cause greater difficulties;Or increase the investment on these aspects,This will lead to local government debt to further increase.What course to follow?In theory how to answer may still can continue to explore,But the important thing is to,Practice is in"Time will not wait for me."of,Must take the time to clear choice.

　　要真正解决各地方政府拓展城镇化建设的资金不足，需要从改革财政体制入手，处理好三方面关系：第一，地方政府事权与财力的关系。中央部门在将事权下放的过程中需要充分考虑到地方政府的财力协调配合，应将对应的财力转移给地方政府，使地方政府拥有足以解决这些事务所需要的成本支出。第二，对地方政府所能承担的债务，在区分财政预算内与预算外的基础上，予以制度性界定。明确哪些资产收入（如土地出让金收入）可承担多大比重的债务，哪些资产不可承担债务；明确债务的透明程序和方法，违规责任等等。第三，理清地方政府债务关系。既不应将地方国企的债务划入财政债务范畴，也不应将学校（包括高校）、医院、土地储备中心等有收入的事业单位的债务简单地划入财政债务范畴。在事业单位的改革深化中，应尽力贯彻自收自支、自负盈亏和自求平衡的原则，将符合这些原则的事业单位债务划出财政债务，以明晰财政债务关系。

To really solve the local government develop urbanization construction fund shortage,We need to start from the reform of financial system,Deal with relationship between three aspects:The first,The local government conform with financial relationship.The central departments in the process of transfer to a lower level personnel will need to take into consideration the local government financial coordination,The corresponding financial resources should be transferred to local government,Make the local government has enough to solve these firms need to cost expenditure.The second,To local government can bear debt,In distinguishing the financial budget and off-budget basis,Be institutional definition.Clear what assets income(Such as the land grant fee income)How can bear the weight of debt,What assets shall not bear debt;Clear debt transparent procedures and methods,Illegal responsibility and so on.The third,Clear local government debt in a relationship.Neither shall the debts of the local state-owned enterprises into financial debt category,Nor should the school(Including the)/hospital/Land reserve center have income institution debt simply delimit financial debt category.In the institutions of the reform in the deepening,Should be trying to carry out the raise/Responsible for their own profits and losses and beg a balance principle,Will meet these principles institution debt off financial debt,To clear financial debt relationship.