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 / View

Local debt concerns

(China Daily) Updated: 2012-08-30 08:14

The Chinese Finance Minister has said the country's county-level governments have seen their fiscal conditions improve significantly.

While this news offers some cause for relief, policymakers should not let their guard down amid the persistent debt burdens that local governments find themselves laboring under.

Things have gone smoothly in China's use of a fiscal-guarantee mechanism to ensure that county-level governments have the resources they need to carry out their duties, Xie Xuren, minister of finance, told national lawmakers on Wednesday.

Since 1994, when the country reformed its tax distribution system in a way that caused more revenue to go to the central government, local governments have complained that they lack the resources they need.

The concerns have only become stronger in recent years, leading some local governments to collect fees in what appears to be an arbitrary manner. Many such governments have also taken to borrowing large sums to make up their deficits, becoming heavily indebted as a result.

By the end of 2010, local governments in China carried about 10.7 trillion yuan ($1.7 trillion) in debt, according to official auditing results.

Even so, their fiscal conditions have improved, largely thanks to fiscal transfers from the central government and an increase in tax income, the finance minister said.

In the first seven months of the year, 3.29 trillion yuan was transferred from central coffers to county-level governments, more than 80 percent of the yearly target, the minister said.

Still unknown to the public, though, is the amount of debt these governments carried on their books by the end of 2011, making it difficult to tell if they truly have become less indebted. Debt troubles often come to the fore when general economic conditions worsen, as the recent histories of many Western countries have shown.

A continued deceleration in China's rate of GDP growth will only threaten to make the indebtedness of grassroots governments more harmful to the economy.

Policymakers, therefore, should avoid letting the apparent improvement in county-level government's accounts lull them into complacency.

(China Daily 08/30/2012 page8)

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 骚鸭av| 国产91一区二区三区 | eeuss中文 | 黄色a一级 | 国产一区免费在线观看 | 九九国产 | 免费观看亚洲 | 亚洲视频在线观看免费 | 国产在线视频你懂的 | 天天透天天操 | 午夜国产精品视频 | 欧美在线一级 | 成年人晚上看的视频 | 久久中文字幕一区 | 午夜视频在线观看网站 | 成年人的视频 | 国内久久 | 青青草原在线免费观看视频 | 四虎在线免费播放 | a在线观看免费 | 成人av免费观看 | 久久av片 | 每日更新av | 欧美一级淫片免费视频魅影视频 | 欧美高清不卡 | 亚洲麻豆 | 日本综合视频 | av免费看网站 | 米奇狠狠干| 一二三不卡视频 | av在线资源观看 | 91国精产品 | 亚洲午夜免费 | 日韩黄色a级片 | 午夜成人在线视频 | 99久久精品免费看国产交换 | 久久一区二区三区四区 | 成人免费大片黄在线播放 | 欧美色资源 | 日日夜夜精品视频免费 | 一级在线观看视频 |