日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Economy

China local govt bonds surge in Q1

(Xinhua) Updated: 2012-05-04 15:34

BEIJING - Bonds issued by China's local government financing vehicles (LGFVs) surged in the first quarter of this year as urban construction continued to boost government demand for funding, local media reported Friday.

LGFVs, or companies set up by local governments to raise funds and bypass restrictions on direct government financing, floated 71 bonds in the first quarter, up from 54 during the same period last year, the Shanghai Securities News reported.

A total of 84.5 billion yuan ($13.5 billion) was raised through the bond issuance, up 35 percent year-on-year, the report said, citing figures from the Shenzhen-based Pengyuan Credit Rating Co Ltd.

Bond financing through LGFVs is a significant fundraising tool for local governments and will stay at a high level this year, Zhou Yuanfan, vice president of Pengyuan Credit Rating, was quoted as saying.

"China is still in a stage of major urbanization and significant funding is needed for urban construction, particularly for the 36 million low-income housing units the government plans to build in the 2011-2015 period," said Zhou.

China bans local governments from borrowing directly from banks and has only allowed four developed regions, including Shanghai and Guangdong, to issue bonds directly on a trial basis last year.

A lack of direct financing channels has forced local governments to circumvent the rules by setting up thousands of LGFVs to raise funds.

A total of 399 LGFVs issued 512 bonds and raised 671.3 billion yuan as of the end of March this year, according to Pengyuan Credit Rating.

It said LGFVs collected 173.5 billion yuan from the bond market in 2011, setting a record high.

Local governments have been under greater financial pressure as the sagging property sector curbs income from land sales, while ambitious plans for low-income housing construction cry for investment.

The central government has been on alert over the growth of local government debt, but has also assured investors that risks are controllable.

China's auditing agency said last year that local government debt totaled about 10.7 trillion yuan at the end of last year, accounting for about 27 percent of China's gross domestic output in 2010.

The possibility of the central government exercising tighter control over LGFVs may reduce the scale of LGFV bonds to a certain extent in the second half of this year, the Shanghai Securities News quoted an unnamed market source as saying.

China will step up regulation of LGFVs and strictly control new local government debt to defuse potential risks, Finance Minister Xie Xuren said in March.

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 91成人精品一区在线播放 | 伊人丁香| 蜜桃成人在线视频 | 亚洲男人天堂影院 | 欧美人与性动交α欧美精品 | 国内自拍视频在线播放 | 青青超碰 | 亚洲最新在线 | 手机看片久久久 | 国产91在线高潮白浆在线观看 | 日韩一级片av| 成人精品网| 不卡的毛片 | 中国大陆高清aⅴ毛片 | 高清国产一区 | 精品一二三四区 | 国产精品久久久精品 | 日本www在线观看 | av高清在线 | 97插插插| 免费在线观看一区二区 | 午夜激情四射 | 制服丝袜一区二区三区 | 亚洲欧美视频在线观看 | 热久久久久 | 久久人人爽人人爽人人片av高清 | 日韩精品综合 | 亚洲美女毛片 | 制服丝袜亚洲色图 | 欧美一区二区在线免费观看 | 国产精品欧美久久久久天天影视 | 香蕉视频在线观看视频 | 国产婷婷久久 | 四虎免费久久 | 日本一区二区精品视频 | 奇米网狠狠 | 国产精品美女在线 | av在线播放网址 | 日韩毛片网| 国产区在线 | 国产成人福利在线 |