专家:上海发行地方债是把双刃剑

短语讲解：

1. Meanwhile it has a much lower debt ratio than other local governments. Shanghai, as an important financial center in China, has a security market which many are familiar with.

familiar with熟悉的
例句：I am not very familiar with European history.
我对欧洲历史不太熟悉。

2. I think the risks resulting from the bonds they issue would be relatively low.

result from产生于…, 由…引起
例句：His failure resulted from not working hard enough.
他的失败是工作不够努力造成的。

3. So it's a good choice to select Shanghai among the first group of cities to be eligible to issue local bonds because the right choice here will smooth out the entire process before more local governments get involved.

smooth out缓和, 调解; 弄平
例句：His advice helped to smooth out their relationship.
他的劝说有助于缓和他们的关系。

4. About 80 percent of local government debt is raised through local government financing vehicles, which are mainly set up to fund construction projects and have come under fierce criticism due to them being poorly supervised.

set up建立，建造, 创立, 竖立
例句：Plenty of foreign firms have set up factories here.
很多外国公司已在这里开办工厂。
due to由于，因为
例句：Due to the extreme cold, we were unable to plant the trees.
由于天气很冷, 所以我们无法去植树。