Local spending raises concern
By Zheng Yangpeng | China Daily | Updated: 2013-08-16 07:48
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Workers fasten cables on the Jiaxing-Shaoxing bridge in Zhejiang province. Some local governments still see big-ticket infrastructure projects such as rail lines and urban renewal programs as a way to shore up economic growth. Shen Da / For China Daily |
For the central government, it is time for cautious mini-stimulus. But in reality, some local governments may be making mini-stimulus into, once again, a campaign for building huge public projects on huge investment and huge borrowing.
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