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

chinadaily.com.cn
left corner left corner
China Daily Website

Local govts' spending sprees create concern

Updated: 2012-08-08 10:08
( Xinhua)

BEIJING -- A new wave of massive spending plans rolled out in recent months by local governments to boost the flagging economy has sparked concerns over wasteful investments and potential local government debt risks.

Changsha, capital city of Central China's Hunan province, unveiled its ambitious investment plan late last month, which features a total investment of 829.2 billion yuan ($130.9 billion) in 195 projects ranging from constructing an airport and exhibition halls to renovating run-down towns.

Before Changsha rolled out its plans, Nanjing, capital of east China's Jiangsu province, set out favorable policies designed to spur its economy, including stepping up investment efforts.

These plans came as China's central government has shifted its focus to steadying growth amid the slowing economy, which dipped to a three-year low of 7.6 percent in the second quarter, and put the public on alert for possible consequences.

"Exhibition centers that have been built in some cities are seldom used," netizen "Robbin-Morgan" commented on the news portal Sina. "They will be a waste."

"Yneszhdgd" also voiced his concerns on the blog, writing, "Inadequate government funds could hardly cover so many projects. The massive investment plan means the beginning of half-done projects."

Others have warned of industrial overcapacity as investment projects in different regions may overlap.

According to He Zhicheng, an economist with the Agricultural Bank of China, 21 of the 24 major industrial sectors have faced serious over-production problems.

"Steel is now even cheaper than cabbage," he said.

Meanwhile, access to funding has been another major problem.

Local governments have seen revenues from land sales tumble due to government policies to curb the sector, and banks, one of the major financing sources for local governments, remain laden with bad loans leftover from previous stimulus plans, making credit ever harder to obtain.

Statistics from the National Audit Office showed that local government debts had amounted to 10.7 trillion yuan by the end of 2010, exceeding that year's fiscal revenue.

Given the scale of investment plans, the pile-up of local government debts was inevitable.

Zhou Lianjun, deputy head of the financing office of the Changsha municipal government, said the city's financial support will be provided by both banks and local governments, and there is "no need to overreact to debt worries."

Liu Shangxi, deputy chief of the Research Institute for Fiscal Science under the Ministry of Finance, said the investment and debt scales were not something to be dreaded, and the key lies in the transparency that would allow the public to supervise and contain the debt within a controllable range.

"The public has the right to know the sources and destinations of funding in order to prevent corruption," he said.

 

Local govts' financing

Changsha in $130b economy stimulus plan
Local govts struggle with less cash
Banks to support local govt financing
Local govt revenues from land sales down
China to clean up local govt debt
Direct local govt bonds halted
China local govt bonds surge in Q1

Opinions?on local stumulus plans

Avoid big stimulus plan
No large stimulus needed
Is fiscal stimulus necessary?
Experts warn on stimulus

...

...
...
主站蜘蛛池模板: 欧美一级特黄高清视频 | 狠狠干狠狠操 | 日韩美女视频在线 | 一级黄色在线视频 | 精品国产福利 | 欧美成人小视频 | 国产男女av| 欧美成人二区 | 99久久精品免费 | 先锋影音av在线 | 久久成年视频 | 91麻豆精品一二三区在线 | 五月激情开心网 | 激情婷婷六月天 | 好吊妞在线观看 | 色网站在线免费观看 | 一区二区三区四区在线免费观看 | 久久精品超碰 | 黄视频免费看在线 | 女人毛片 | 三级视频小说 | 欧美不卡在线视频 | 欧美日韩一区二区三区在线 | 成人福利视频在线 | 欧美激情自拍 | 欧美另类视频在线观看 | av在线资源 | 婷婷综合久久 | 国产高清网站 | 男女视频一区 | 久久久久久久99 | 99视频在线看 | 国产成人高清在线 | 免费国产一区二区三区 | 狠狠操婷婷 | 美女午夜视频 | 成人免费毛片片v | 在线成人av网站 | 一级片免费播放 | 2019天天操 | 黄网在线免费 |