The Lease-debt Relationship of Chinese Local Government Financing Vehicles

In recent years, the number of local government financing vehicles in China has been increasing, scale development expanding rapidly, and methods used have also increasing. At present, bank loans are still main channels, but lease mode become one important ways for to obtain financial access. This paper mainly studies lease-debt relationship Chinese vehicles, selects unbalanced panel data 1435 from 2012 2020 empirical analysis. The results show that between ratio loan is significantly negative, indicating platform a substitution relationship. Increasing use will reduce by platform, while control variable bond ratio, total assets, leverage cash significant impact on Finally, based results, this analyzes puts forward corresponding suggestions.