The local government debt has been surging in recent years in China, leading to the accumulating risk and a lot of social concerns.Firstly,the author reviews theory of local government debt.Secondly,the author chooses Ningbo City as a case study,try to analysis the risk of local government debt by using the combination of both qualitative and quantitative methodologies.It has found that the Ningbo city government debt service ratio and the debt burden increase year by year,which has exceeded the warning line level,couple with the limited funds,the government gradualy get into a critical situation.Finally,the author propose the direction and measures for the future reform of local government debt on debt size and risk management,which has theoretical and practical significance.