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 / Opinion

Local leaders as board of directors

By Ed Zhang (China Daily) Updated: 2014-05-12 13:19

Sometimes, the things that most people talk about, though important, end up being irrelevant in a few years. The current discussions in media circles about Shanghai's pilot Free Trade Zone appear headed in this direction, much like the pilot financial reforms in Wenzhou, or the new investment zones elsewhere in China.

Of course, in the meantime, there are also those who cannot stop weeping over their losses from yet another decline of the A-share stock market without realizing that it has done so several times since the beginning of the year. There are also those who lament the dwindling visitors to the Canton Fair, the shopping window for China's exports. But come on, we have been living in the Internet age for some time, haven't we?

Local leaders as board of directors

Local leaders as board of directors

 
People cannot stop talking about the things that are the only game they know from the past, forgetting that they are actually living in a time of rapid change - which means, like it or not, the hottest game tomorrow will be different.

One thing to watch is China's new budget law. It has taken a whole decade for lawmakers to come up with an amendment to the almost 20-year-old law, which is out of tune with the realities of today's economy, considering that local governments are eager to take on increasing investment projects but don't have legitimate channels to raise capital on their own.

The existing budget law prohibits local governments from issuing bonds and raising debt. In a province with two dozen cities and 2 trillion yuan ($300 billion) in GDP, it would be unthinkable that local governments, at both provincial and city level, cannot finance their public projects directly through the financial market, although in reality many of them have raised a lot of debt (at least 1 trillion yuan and above) in various ways that are yet to be defined by law.

That makes the government system overly centralized and top-heavy. Local governments need to be more responsible for their financial affairs and for sponsoring development projects based on the needs of the local society.

The draft amendment allows local governments financial autonomy. If it were passed, it would be an unprecedented change in the nation's history.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 日韩簧片| 亚洲精品一级片 | 成人亚洲一区 | 毛片在线网址 | 亚洲国产图片 | 超碰在线中文 | 午夜视频一区二区 | 国产高清欧美 | 毛片在线视频 | av色资源 | 国产美女永久免费 | 成人小视频免费在线观看 | 热99视频| 成人免费视频观看 | 日韩av一区二区三区四区 | 黄色成人在线视频 | 国产专区在线播放 | 久久中字 | 中文成人在线 | 蜜桃av噜噜一区二区三区麻豆 | 伊人成人在线观看 | 国产精品视频自拍 | 国产一区二区不卡 | 亚欧三级| 国产午夜精品理论片 | 欧美视频二区 | 日本精品久久久久 | 起碰在线视频 | 最新99热| 九色porny丨国产精品 | 99免费精品视频 | 亚洲欧美专区 | 亚洲精品中文字幕在线 | 国内特级毛片 | 午夜视频精品 | 亚洲精品久久久久久久久久久久久 | 在线观看网站黄 | 日韩av不卡在线播放 | 欧美日韩综合视频 | 亚洲视频精品 | 国产91页|