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: 欧美成人综合色 | 亚洲福利小视频 | 成人免费毛片嘿嘿连载视频 | 一区二区精彩视频 | 爱爱久久| av片在线看 | 岛国中文字幕 | 久热精品在线视频 | 黄色你懂的 | 青青草97国产精品免费观看 | 日日夜夜影院 | 国产美女在线观看 | 国产区在线看 | 在线激情av| 在线观看黄色 | 五月天激情片 | 天天干天天玩 | a级黄色免费视频 | 成人欧美在线观看 | 亚洲欧美在线播放 | 久久精品爱 | 操极品| 日韩黄色网址 | 亚洲免费色图 | 成人看片黄a免费看视频 | 久久国内精品视频 | 性做久久久 | 亚洲黄色在线看 | a在线看| 亚洲欧美自偷自拍 | 欧美一及片 | 精品久久网站 | 日韩国产欧美一区 | 国产日韩欧美一区 | 中文字幕日本在线 | 美女在线播放 | 日本另类 | 午夜免费网站 | 日日不卡av| 精品黄色av | 亚洲欧美在线视频 |