国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Make me your Homepage
left corner left corner
China Daily Website

Local govt debt is 'controllable'

Updated: 2013-09-05 07:23
By Zheng Yangpeng ( China Daily)

China's Finance Minister Lou Jiwei on Wednesday called the scale of the nation's local government debt controllable, adding the growth of debt was slowing, and the risk of default was "not that great".

He admitted local governments do face "relatively big" debt problems, especially those that previously saw very rapid revenue growth.

"They thought they would have money forever, so they took the risk of borrowing," Lou said in an interview with China Central Television. "For a period of time, their fiscal revenue grew 50 percent. They thought the growth would be 50 percent for the next five years, so they spent the money first."

He said China will improve its supervision of how local governments use money raised through bond sales. The funds should only be used for expenditure on construction. They should not be used for day-to-day expenses because doing so would be a "dead end", he said.

Local governments that borrowed money for projects which are now generating good cash flow should use that income to pay off debt, Lou said. China may use fiscal revenues to pay back some local government debt accumulated to provide for the "public good", he said.

Lou's remarks echoed earlier comments by President Xi Jinping, who said during an official visit to Central Asian countries that the government is able to deal with problems of local debt.

Lou's comments on the government debt situation corresponded with an earlier report by the Development Research Center of the State Council, a think tank under the cabinet, which concluded a government debt bubble is unlikely to burst in the short term.

The report said by using conservative calculations, government debt as a proportion of gross domestic product would reach 26 percent by 2020. Under a high-risk scenario, the figure would be 30 percent, still within the margins of safety.

As concern over local government debt has increased, the State Council in July ordered the National Audit Office to conduct a new survey of all government financial obligations. Results are not yet available.

In 2011, the office carried out an audit across the country and concluded local government debt stood at 10.7 trillion yuan ($1.75 trillion) at the end of 2010. There has been no official nationwide survey since, but local debt is believed to have surged in the following years, after a government spending boom.

 
 
...
桂平市| 乌拉特中旗| 西华县| 荥阳市| 安吉县| 彭水| 汨罗市| 和顺县| 西畴县| 寿光市| 历史| 靖安县| 玉田县| 宁阳县| 区。| 临泉县| 三原县| 台州市| 都江堰市| 塔河县| 民县| 陇西县| 夏津县| 临沧市| 察哈| 宁安市| 阳江市| 固原市| 高雄县| 突泉县| 将乐县| 临湘市| 炎陵县| 邻水| 红河县| 吴堡县| 固原市| 特克斯县| 巴里| 瑞丽市| 渭源县|