The 316th Wenlan Financial Forum

Abstract：

Local government debt risk is a common issue faced by countries around the world. With the expansion of government expenditure boundaries in the process of economic development, the mismatch between central and local financial powers and administrative powers has increased local financial pressures, thereby plunging local governments into a quagmire of debt risk. In the short term, priority should be given to financial instruments to resolve debt liquidity risks through diversified means; in the long term, policy support should be the main focus, with enhanced coordination between fiscal and monetary policies to establish a sustainable development model for government debt.

Speaker Introduction：

Shenggang Yang is a professor and doctoral supervisor at the School of Business Administration, Hunan University, and the director and chief expert of the Research Center for Financial Development and Credit Management at Hunan University, which is a professional and distinctive think tank in Hunan Province. He concurrently serves as a council member of the Chinese Finance Society, a council member of the China Finance Education Development Foundation, an executive council member of the China Finance Annual Conference, a member of the Teaching Steering Committee for Higher Finance Majors under the Ministry of Education, and a member of the Academic Advisory Committee of the Hunan Provincial People's Government. He is an expert who enjoys special government allowance from the State Council. He has presided over 13 national-level research projects, including major and key projects funded by the National Social Science Fund and the National Natural Science Foundation of China. He has published 11 monographs and published over 200 academic papers in authoritative journals such as Social Sciences in China and Economic Research. He has won more than 20 teaching and research awards, including the First Prize for Scientific and Technological Progress in Hunan Province, the First Prize for Excellent Social Science Achievements in Hunan Province, and the First Prize for Excellent Teaching Achievements in Higher Education in Hunan Province. In 2006, he was selected as a national candidate for the "Million Talents Program" for the new century. In 2009, he was awarded the title of the Fifth National Outstanding Teaching Teacher. In 2012, he was appointed as a specially-appointed professor under the "Lotus Scholar Program" in Hunan Province. In 2014, he was selected as a leading talent under the national "Ten Thousand Talent Plan". In 2017, he was selected as a leading talent in think tanks in Hunan Province. In 2021, he was awarded the title of the Seventh Outstanding Social Science Expert in Hunan Province.