央行行长周小川日前撰文对地方政府债提出了自己的设想。他指出,中国今后若能建立地方政府债务体系,地方债应主要出售给当地居民,以构成对地方政府债务的约束。周小川行长认为“将地方债应主要出售给当地居民,以构成对地方政府债务的约束”的观点,笔者认为,其出发点是,售给当地居民后,可以实现三个目标。第一,当地居民对本地政府项目投资比较熟悉、信息量较大,可以全面了解投资风险,从而决定买与不买?第二,当地居民可以现场对投资项目、资金运用投向进行有效监督和约束,从而强化对政府的监督,避免酿造较大风险。第三,即使存在风险也仅限于一个地区、一定范围内的居民购 Zhou Xiaochuan, governor of the central bank, recently put forward his own ideas on local government bonds. He pointed out that if China can establish a local government debt system in the future, local government debt should be mainly sold to local residents in order to constitute a constraint on local government debts. According to Governor Zhou Xiaochuan’s view that “local debt should be mainly sold to local residents to constitute a constraint on local government debts”, the author believes that the starting point is that after the sale to local residents, three goals can be achieved. First, the local residents are more familiar with the local government investment projects, a large amount of information, you can fully understand the investment risk, which decided to buy and not buy? Second, local residents can invest on the project, the use of funds to effectively monitor and control the constraints , So as to strengthen the supervision of the government and avoid creating more risks. Third, even if the risk is limited to one area, a certain range of residents purchase