In the afternoon of May 10, [Mingli Lecture 2023 Issue 34], associate professor Lin Wanfa of Wuhan University was invited to present an academic report entitled "New AAA Rating Guarantee, Guarantee Hierarchy Complementation and Urban Investment Bond Issuance". This presentation was conducted online, with teachers from the School of Management and Economics and master's and doctoral students participating.

Based on the economic and social background that the risk of local government debt in China has gradually increased in recent years, and the huge debt repayment amount has caused enormous financial pressure on local governments, Associate Professor Lin Wanfa used relevant data such as the issuance of urban investment bonds and the establishment of AAA professional guarantee institutions to explore how guarantee resources affect the issuance of urban investment bonds and the resolution of debt extension risks. The study found that the establishment of AAA professional guarantee institutions is beneficial for increasing the issuance amount and quantity of urban investment company bonds, and has a short-term effect on alleviating the debt risk of urban investment companies.

This report fully mobilized the enthusiasm of the attending teachers and students. Associate Professor Lin Wanfa answered the questions raised by everyone and received unanimous praise from the attending teachers and students.

Introduction to Associate Professor Lin Wanfa:

Associate professor and doctoral supervisor of the Accounting Department of the School of Economics and Management of Wuhan University School of Economics and Management, who was selected into the "Youth Top" Talent Training Plan of Hubei Province (2022). The main research direction is related to the bond market and financial intermediation, and the research results are published in domestic and foreign academic journals such as Economic Research, Management World, and Financial Research. Relevant achievements have won the first prize of excellent papers of the Chinese Accounting Society of the Ministry of Finance, the second prize of excellent research achievements of the China National Intellectual Property Administration, and the second prize of excellent achievements in social sciences of Hubei Province (ranking first), and presided over the Youth Project of the National Natural Science Foundation of China and the Youth Project of Humanities and Social Sciences of the Ministry of Education.