Abstract: Under the background of the domestic gradually downward economy and the expanding size of local government debt,steady growth and anti-risk has become two important policy objectives in China. Taking Hunan as an example, based on the analysis of local government debt scale and structure change of Hunan province and the economic development, this paper discusses the current government debt risk in Hunan province and the present situation of the supervision system, and holds that there are still problems such as lack of specific side degree index, unrefined use and repayment of debt, simple early warning indicators in debt scale control regulation. Under the new normal background, it is of necessity to take measures such as establishing a national debt risk early warning system, clearing debt management responsibility, improving the budget management system and responsibility investigation systemto strengthen local financing platform in order to prevent and dissolve the local government debt risk, promote economic stability and growth.

Key words: Local Government Debt, Debt Supervision, Early Risk Warning