Municipal Audit Bureau strengthens hidden debt monitoring to prevent debt risk resolution
According to Jilin Provincial Department of Finance, Jilin Provincial Development and Reform Commission, People's Bank of China Changchun Center Sub-branch, Jilin Province Audit Office, China Insurance Regulatory Commission Jilin Supervision Bureau, China Securities Regulatory Commission Jilin Supervision Bureau Notice of Statistical Monitoring and Jilin Provincial Audit Office's "Notice on Developing Statistical Monitoring of Hidden Debts of Local Governments" required that the Siping Audit Bureau immediately formulated the "Siping Municipal Audit Bureau's Work Plan on Printing and Distributing the Siping Local Government's Hidden Debt Statistics Monitoring Work" 》, Organized the business departments and the Tiexi and Tiedong Audit Bureau to conduct audit review of the hidden debts of local governments, and reported the audit review results to the financial department on a quarterly basis. As of the end of November 2019, the Siping Audit Bureau had sampled 678 hidden debts from 69 departmental units, accounting for 88.46% of the debt units; accounting for 77.57% of the debts; and accounting for 94.72% of the debt amount. The audit review found that there were problems such as overreporting, underreporting, underreporting, and debt repayment that did not update the data in a timely manner, which affected the accuracy of the hidden debt data. The Municipal Audit Bureau strengthened the statistical monitoring of the hidden debt platform, timely grasped the dynamics of debt changes, and helped the government resolve the hidden debt risk.