>At present，China has a high degree of accumulated local government debt risk can not be ignored.As China’s economic situation changes and the gradual formation of hierarchical financial system，issuing municipal bonds，the conditions are ripe in our country where the current municipal bond issuance and circulation of the pilot，both necessary and possible.Timely release of local government debt issued to establish a standardized local government financing should be considered，which will help speed up local economic development，prevent and resolve financial risks，financial and taxation reform，enrich and improve the financial markets.The State Council is recommended to formulate and promulgate the regulations，policies and laws for local governments issue municipal bonds；Accelerate the establishment of local municipal bond management system；Make use of experimental methods to develop the local municipal bonds，Make certain and lay down that local government approval municipal bonds，issued debt eligible，issue size，scope of use，bonds form，repayment，currency trading，ratings and supervision.