(The 26th ordinary meeting of the People's Government of the House of Commons, held on 28 May 2013, considered the adoption of Decree No. 153 of 13 June 2013 by the People's Government Order No. 153 of 13 June 2013.

Chapter I General

In order to strengthen government debt management, to prevent and detract from the Government's risk of debt, this approach is based on the relevant laws, regulations and relevant national provisions.

Article II refers to government debts as referred to by the commune Government and its departments and agencies, public utility units, fund-raising units and government financing platforms, which are approved, and are reimbursed by financially integrated arrangements, including foreign government loans, international economic organization loans, central subgenerational local government bonds, national debt transfer funds and domestic financial institutions.

Article 3. This approach applies to the preparation, borrowing, use, repayment and monitoring of government liabilities in this city. The State, the provincial authorities also provide for the management of the Government's debt.

Article IV Government debt management is guided by the principles of debt affordability and risk control, with sub-management and sub-ordination.

Article 5. The financial sector is responsible for the management of government debt.

The development reform sector, the audit body, the inspectorate and other relevant departments are responsible for the management of government-specific debt within their respective mandates.

Chapter II Planning and approval

Article 6. Government-specific debt is governed by the annual plan. The preparation of the annual Government debt plan should be based on development needs, taking into account the state of economic and social development in the current region and the Government's financial resources.

Article 7. Public utility units, fund-raising units and government financing platforms (hereinafter referred to as financing platforms) should be sent to the Government-level development reform sector by the end of September of the next year by the end of September of each year to the next year's Government debt project plan.

The Government's debt project plan should include project name, conditionality, borrowing amounts, repayment of funds and deadlines, prevention and disposal of risk measures.

Article 8. Reimbursement of Government-specific debt financing funds depends primarily on public goods that are financed by financial arrangements, and not to borrow Government debt through financing platforms, in addition to legal and State-provided funds.

Article 9. The development reform sector reviews the Government-specific debt project plans sent to the financing platform and integrates the financial sector's financial resources available for the next year, as well as predictable Governments within the future year, prepares proposals for the annual government debt plan and sends the same financial sector by the end of October.

Article 10. The financial sector prepares a draft annual government debt-relevant plan, based on the recommendations of the Government's annual debt plan developed by the development reform sector, following a review of the next annual government debt-relevant recommendations issued by the financing platform, which were approved by the Government by the end of December.

Article 11 has one of the following cases and does not approve borrowing government debts:

(i) Unimplementation of the source of funds and the responsibility of the Government's debtor;

(ii) The borrowing Government's debt to be used for projects prohibited by a national order;

(iii) By borrowing government debt exceeding fiscal sustainability;

(iv) Other cases specified by the State.

Article 12. The financial sector should inform the appropriate financing platform within 30 days of the date of approval of the Government's annual debt plan.

The regional financial sector should submit the annual plan of government-specific debt to the commune financial sector within 15 days of the date of ratification.

The Government's annual plan for sexual debt had to be changed and had increased by more than 10 per cent and should be resubmitted and approved in accordance with the relevant provisions of the scheme.

Changes in the annual government debt plan should be reported by the sector's financial sector within 15 days of the date of re-approval.

Article 14. The financial sector shall report in writing to the Government of the people at this level on the implementation of the Government's annual debt plan by 31 January each year.

The financial sector of the region should report on the implementation of the annual Government debt plan on a timely basis on the municipal financial sector.

Article 15. Governments of the city and the region should report regularly to the Standing Committee of the People's Representatives at the same level on the preparation, approval, modification and implementation of the Government's annual debt plan.

Chapter III borrowing, use and reimbursement

Article 16, with the approval of the State Department of State for the transfer of loans for the use of foreign Governments or international economic organizations, may not be a guarantor of Government-specific debt.

Article 17 The financial sector should integrate the modalities for the financing of government-specific debt funds, the debt interest rate, the length of the debt, the amount of the sum and the time of the drawing of the approved Government's annual plan on debt, and enter into contracts with the Government's debtor.

Article 18 Funds for Government-led debt-building projects include self-financing, and financing platforms should be matched by government debt and self-financing funds.

The Government's debt fund is governed by a system of exclusive housekeeping, co-managed and supervised by the financing platform in the banking sector and, in accordance with approved uses, cannot be diverted.

Article 20 Construction projects that borrow Government debt should be reported to the financial sector in a timely manner and adjusted accordingly by the financial sector after verification by the financial sector.

Article 21 Government-specific debt-repayment funds are included in financial budget management.

The municipal, regional financial sectors should be financed from the fiscal budget in accordance with the Government's annual plan for debt.

Article 22 establishes a system for the Government's Debt Reimbursement (hereinafter referred to as debt-servicing reserves). The debt-servicing reserve was established by the financial sector to cover or simulate the Government's debt interest, and no unit or individual could be diverted.

Sources of the debt-servicing reserve include:

(i) High-level financial earmarked funds;

(ii) Funding for financial budget arrangements;

(iii) The late receipt of the lauruna;

(iv) The value added of the debt-servicing reserve;

(v) Other funds consistent with the provisions.

Article 23. The scale of the annual debt-servicing reserve shall not be less than the annual debt-servicing requirement; in exceptional cases, when the annual debt-servicing reserve is not sufficient to cover the end of the Government's debt, the financial risk reserve may be used in accordance with the provisions or the annual financial budget reserve.

Article 24 Reimbursement of government debt by the financing platform shall be made to the current financial sector by 30 days prior to the expiration of the debt. The financial sector should be certified in a timely manner upon receipt of the request and be paid directly to the financing platform account by 10 days prior to the expiration of the debt. The financing platform should pay the funds allocated by the financial sector in a timely and fully paid manner and, within 7 days of the date of the Government's bond of debt payments, to the financial sector for the write-off of Government debt.

Article 25 The financing platform does not make a request for reimbursement to the financial sector in accordance with the provisions, or reimbursements directly paid by the financial sector are not reimbursed in a timely and full manner after the payment is made.

Chapter IV Risk prevention and control

Article 26 Governments of the city and the region should establish mechanisms for monitoring early warning of government debts and developing contingency scenarios for the prevention and treatment of Government-specific debt risks.

Article 27 Development reform and the financial sector should strengthen the scientific argument of borrowing government debt-building projects to prevent government debt risk.

Article 28 should establish a system of analysis of good government debt statistics. The sector's financial sector should regularly summarize the cases of government debt borrowing, use, repayment and risk, and, in accordance with the provisions for the timely reporting of the municipal financial sector.

Article 29 should establish an information system for the sound management of Government-led debts, monitor real-time government debts, determine the risk of debt, control the balance of debt, and the proportion of payments that are vested in the Government at the disposal of the year.

The municipal financial sector should develop government-specific debt monitoring indicators such as debt rates, debt service rates, and establish safety zones and alert areas for each monitoring indicator.

Article 31 provides a unified assessment of the risks of domestic, sectoral and governmental debt in every half year of the city's financial sector and uses the result of the current risk assessment as a basis for borrowing the next period of government debt.

Risks were identified after the Government's risk assessment, and the municipal, regional financial sectors should take timely risk-prevention measures to control the next debt balance without a net increase; when the outcome of the debt risk assessment showed that there was a risk of Government-specific debt, new loans should be stopped immediately and measures should be taken to reduce the scale of debt.

When the result of the current risk assessment found that there was a risk hidden and the subsequent debt balance would require a net increase; or a Government-specific debt risk during the current period, the next period would require new loans or net additional debts and should be implemented in accordance with the following procedures:

(i) That is a municipal-level government debt, which is approved by the municipal finance sector;

(ii) Participatory government debts, which are approved by the Government of the People of the city following the agreement of the Government of the People of the Region's Finance Sector.

Chapter V Oversight and responsibility

Article 33 Financial, development reform sectors and audit, inspection bodies should strengthen their management and oversight of borrowing government debt-building projects. The financing platform should be subject to scrutiny in accordance with this approach and related provisions for financial management and accounting for construction projects that borrow Government debt.

Article 32 borrows, uses, repayments of government debts are included in the audit of economic responsibility of the city, the people of the region and their associated sectors.

Article 33, Staff in the financial sector and related sectors, units, violates the provisions of this approach, consists of one of the following acts, which are dealt with by law by their units, superior administrative organs or inspection bodies; constitutes an offence punishable by law:

(i) The use of Government-specific debt funds in accordance with the specified purpose and approval;

(ii) Contrajection and misappropriation of Government-specific debt funds;

(iii) deliberately conceal or do not have real statistics and report on government debt;

(iv) Other violations of this approach.

Article 34 punishes or disposes of the offence set out in the Financial Offences Punishment Ordinance in violation of this scheme.

Annex VI

Article 33 fifteenth provides direct or indirect guarantees under the law of the city, the people of the region and their departments and agencies, as well as financing platforms for public goods borrowing and borrowing debts from funds, and incorporating government debt management after approval by the relevant procedures.

Article XVI of the Town People's Government, the Street Office must not in principle borrow the Government's debt, and should be managed in an integrated manner following the approval of the Government at the highest level.

Article 37 of this approach is implemented effective 1 August 2013.