地方债因为有政府信誉作担保,通常来说都是非常安全的。特别是地方政府所发行的债券,还被认为是仅次于“金边债券”的一种债券,而且投资者购买地方政府债券所获得的利息收入一般都免缴所得税,这对投资者有很强的吸引力。鉴于中国地方政府不得直接发债筹资,因此它们利用特殊目的实体来规避这些规则,以这些特殊目的实体的名义发行债券,以便为基础设施项目融资。但是最近审计署所公布的关于地方债务的相关数据和审计署所进行的全方位 Local debt is generally safe because of government credit. In particular, bonds issued by local governments are also considered to be second only to “bonds of Phnom Penh,” and investors are generally exempt from income tax on interest earned on the purchase of local government bonds. This is especially true for investors who have Very attractive. Since local governments in China are not allowed to issue bonds directly, they use special-purpose entities to circumvent these rules and issue bonds in the name of these special-purpose entities in order to finance infrastructure projects. However, the data released recently by the National Audit Office on local debts and the omni-directional data