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资金来源问题是中国当前城镇化过程中的关键问题。在2009年信贷和债务大幅扩张之后,中国在2010-2012年经历了连续三年的债务消化和结构调整。未来五到十年,中国的债务扩张能够持续吗?债务扩张能否继续为城镇化提供资金?中国会发生债务危机吗?要回答这些问题需要了解中国政府的债务规模及其变化趋势。中国广义政府债务率的测算
The issue of funding sources is a key issue in China’s current urbanization process. After a sharp expansion in credit and debt in 2009, China experienced three years of debt digestion and restructuring in 2010-2012. Will China’s debt expansion continue in the next five to 10 years? Can debt expansion continue to provide funding for urbanization? Will China have a debt crisis? To answer these questions requires understanding the scale of the Chinese government debt and its changing trends. Estimation of Debt Rate of General Government in China