bond sales 举借债务

To tackle this situation, the revision green-lights bond sales by provincial1-level governments but places them under strict conditions. It not only restricts the amount of bonds but also regulates how to issue them and use funds raised through bonds.

为了应付这一局势，修订版预算法允许省级地方政府发行债券，但又对其作出了严格的限制性规定。新预算法不只限制了发行的债券规模，还规定了发行方法和举借债务的资金作用与功效。

新预算法将green-lights bond sales by provincial-level governments（允许地方政府发行债券）。新预算法规定，provincial governments are allowed to issue bonds within a quota2 set by the State Council（省级政府须在国务院下达的限额内举借债务）。而且，money raised by the bonds can only be used for public services, and not for government operations（通过债券筹备的资金只可以用于公益性支出，不可以用于政府运作）。

新预算法将政府预算分为四个部分：general budget（一般公共预算）、budget for government-managed funds（政府性基金预算）、budget for state-owned assets（国有资本经营预算）与budget for social insurance funds（社会保险基金预算）。这就是四本预算，能够帮助打造一个complete and transparent3 budgetary system（全方位规范、公开透明的预算规范）。