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

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

For local government debts, transparency seen as a necessity

By Wu Yiyao in Shanghai | China Daily | Updated: 2013-04-09 10:03

Economists encourage greater openness and market liberalization

Economists in China have called for a more liberalized market and greater transparency in soaring local government debts.

The latter must be achieved before decision makers can have a clear idea of what to do with the debts, said economists at a conference on China's financial policies in Shanghai on Monday.

Xu Xiaonian, professor of finance at the China-Europe International Business School (CEIBS), said it is unclear how much money local governments have borrowed from various parties since the central government introduced a 4-trillion-yuan ($644 billion) stimulus package to boost the economy and domestic demand in 2008.

"In localities with relatively good financial conditions such as those coastal cities in the eastern and southern parts of China, local government debts are about two times that of annual fiscal revenue ... and some overseas institutions estimate that debts at various levels of government in China may be 100 percent of China's GDP," said Xu.

Xu said to clear up non-performing debts, it is essential to have a clear picture of local government balance sheets.

Concerns over government debt in the world's second-largest economy have intensified since decision-makers tightened financing in the real estate sector. This affects local governments' land sales, a major source of their fiscal income.

The development of the local real estate industry and local governments' debts are intertwined, and if housing prices drop drastically, lenders may have to face heavy bad debts, said Xu.

Previous Page 1 2 3 Next Page

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
会理县| 胶州市| 大荔县| 曲靖市| 郧西县| 额济纳旗| 延川县| 安阳县| 赤城县| 黔江区| 大石桥市| 清涧县| 东丰县| 大渡口区| 娄烦县| 湖口县| 甘洛县| 环江| 宜丰县| 丽江市| 左云县| 凤阳县| 双柏县| 图木舒克市| 柞水县| 太湖县| 资中县| 洛浦县| 徐水县| 绥中县| 浮梁县| 龙山县| 城口县| 堆龙德庆县| 卓资县| 海盐县| 邵武市| 宁国市| 东山县| 安徽省| 海伦市|