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Local crazy debt, has reached a degree reckless. He said, 'Some of the prefecture-level city and county (city), the construction of massive government borrowing 'New' or groups of 'park', the total amount of local debt financing platform also continues to accumulate. For example Wuxi, Xinyu and other places, thanks to the support blind development of solar photovoltaic industry, the government guaranteed debt over ten billion yuan, and now has been basically unable to pay! 'Even more serious is the local debt transparency is poor, concealed, lack of effective monitoring, currently more than half is out of control or out of control . The end of 2010, the center began to strictly control of local government debt. But even under such circumstances, provincial, municipal and county local levels of government debt only two and half years to 6.8 trillion yuan. Clearly, the central management and control of local debt is not significantly effective. Debt come from? Such a large local debt come from? Wang Huiling, University of Toronto political associate professor, told the Chinese local debt problem did System. She found the eighties and nineties, the Chinese government led the establishment of a large number of grassroots township enterprises. These companies from the Rural Loan, and then provide sufficient financial resources through tax and non-tax revenue channels for the grass-roots government. But until the late 1990s, there have been more large-scale township enterprises collapse, the wave of restructuring, its debt owed by the owner of a substantial nature of these enterprises - the township level of government bear down. This view, 'China News Weekly' reported that year coincided. 'Government debt' survey found that the township debt formed in the year 1994, after increasing year by year. The article also specifically cited the example of Jianli County, Hubei Province, 'in 1995, 30% of the county or township debt balance by 2000, 90% of the township fiscal deficit, with an average deficit of less than 400 million, liabilities less than 8 million yuan. 'after' government debt 'published soon after, when he was party secretary of the township board Jianli Li Changping to the Prime Minister he wrote an open letter' a township party secretary of the truth ', at the time caused a great repercussions. Li Changping In the letter, the board will be rural debts compared Everest, 'heavy burden on farmers year after year, the village collective deficit year after year, the township fiscal deficit year