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 / Policy Watch

PBOC sets sights on 'zombie' financing vehicles

By Zheng Yangpeng (China Daily) Updated: 2014-01-18 08:00

PBOC sets sights on 'zombie' financing vehicles
The People's Bank of China said in an online statement on Thursday that it will "exhaustively clean up" local government financing vehicles that "have poor credit, ambiguous functions and unsustainable financial conditions". [Photo / Provided to China Daily]

The People's Bank of China has reiterated its resolve to root out "zombie" local government financing vehicles this year and ensure that urbanization funding moves through standard market channels.

The central bank said in an online statement on Thursday that it will "exhaustively clean up" local government financing vehicles that "have poor credit, ambiguous functions and unsustainable financial conditions".

These vehicles are separate agencies created by local governments to finance massive spending on highways, stadiums or public works. Their creation followed the 2008 stimulus program that helped China rebound quickly from the global financial crisis and subsequent economic downturn.

But analysts now believe that many LGFVs can't cover their debt payments. These entities were set up in haste, without any thought given to profitability, and the projects they backed don't generate sufficient revenue to make loan payments.

"The PBOC statement is more symbolic than substantive, and it's not the first time it said it will clean up LGFVs," said Li Yan, a senior analyst at China Chengxin International Credit Rating Co Ltd. "I assume specific rules will follow the pledge."

The central bank's statement was in line with that of the National Development and Reform Commission, which on Dec 31 said it will allow debt rollovers in an effort to avoid defaults by LGFVs.

Both statements were seen as confirming the belief that a growing number of LGFVs face repayment difficulties and will have to roll over their debt.

The NDRC's announcement came just one day after the National Audit Office's disclosure that China's local government debt and contingent liabilities had surged to 17.89 trillion yuan ($2.93 trillion) by the end of last June. That figure represented a 67 percent rise from previous audit results from the end of 2010.

Debt raised by LGFVs accounted for 39 percent of total debts, the NAO said.

Previous Page 1 2 Next Page

...
...
主站蜘蛛池模板: 国产精品五区 | 精品色 | 欧美 日韩 精品 | 成人免费av片| 欧美日韩国产区 | 日韩亚洲欧美中文字幕 | 亚洲福利视频网 | 国产精品福利小视频 | 国产特黄毛片 | 午夜家庭影院 | 亚洲黄色免费网站 | a久久久久久 | 欧美一级片在线播放 | 国产xxx视频 | 亚洲欧美自偷自拍 | 亚欧乱色 | 青青青草视频 | 亚洲精品一区二区在线 | 琪琪色av| av日韩一区 | 国产综合在线视频 | 97在线免费 | 日韩在线视频播放 | 精品国产亚洲一区二区麻豆 | 九九自拍视频 | 成人h在线观看 | 午夜视频入口 | 欧美日韩中文 | 久久免费手机视频 | 久久精品一区 | 亚洲日本免费 | 欧美无砖区 | 黄色免费网站在线观看 | 欧美中文字幕在线观看 | 欧美69久成人做爰视频 | 日本视频网 | 日韩香蕉网 | 成人国产片女人爽到高潮 | 国产精品九九视频 | 久草免费在线视频 | 亚洲激情五月 |