关键词: 地方财政 , 财权 , 事权 , 转移支付 , 地方政府债务

Abstract: Under the existing financial system of China，the division of financial power regardless of the routine power below the province is still unsolvedFinancial resources are more and more concentrated upTax return cannot play the role of balancing financial resourcesThe proportion of special transfer payments is high，while that of the general transfer payments is lowStatutory charges and the pressure of matching funds demanded by higher levels of government are increasingThe tax system of the local government is still incompleteDebt risk of the local government is still prominentTo tackle the problems of the local fiscal system below the province，new measures must be taken，such as perfecting the tax system of the local government，linking the levels of the local government with that of the tax sharing system，establishing transfer system properly，preventing the debt risk of the local government，and setting up the financing system of the local government prudently

Key words: local financial , financial power , transfer payments , local government debt