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 / Markets

Call for local govts to issue bonds for projects

By LAN LAN and WANG ZHUOQIONG (China Daily) Updated: 2012-09-08 02:57

China needs to allow local governments to issue bonds to help tackle the financing bottleneck in infrastructure construction, said a senior official of the country's top economic planning agency on Friday.

The government should further relax the existing regulatory system and allow county and prefecture-level cities to issue bonds, said Xu Lin, head of the Fiscal and Financial Department of the National Development and Reform Commission.

The NDRC has accelerated project approval in a bid to boost economic growth. China’s economic growth slowed to 7.6 percent in the third quarter, the slowest pace in three years.

On Wednesday it announced the approval of 25 rail transit projects with a total estimated investment of 800 billion yuan ($127 billion).

However, many cities are lagging behind in terms of water, sewage and waste treatment facilities, said Xu.

It’s “not sustainable” for local governments to rely on income from land transfer payments to finance infrastructure construction, he added.

Many cities in eastern coastal areas have seen a sharp decline in income due to the stringent measures on the real estate market.

Bank credits, a vital source of capital for local government infrastructure construction, often add to their financial risks, as the debt maturity of bank loans usually doesn’t match the profit period of the projects.

To solve the financing difficulties, the government needs to further relax its regulations and allow local governments to issue debt, Xu said.

According to existing budget law, local governments are not allowed to issue bonds without the approval of the State Council.

The Ministry of Finance has set a quota of 250 billion yuan for this year’s local government bond issuance, which is totally inadequate, according to Xu.

China has sufficient funds for infrastructure projects, as a large portion of bank deposits have yet to be invested in the real economy.

Corporate bonds only account for about 10 per cent of China’s GDP, he said.

Three regulators manage bond issuance: The NDRC controls corporate bonds issued by State-owned companies; the China Securities Regulatory Commission is in charge of bonds issued by listed companies; and the central bank looks after commercial paper and medium-term notes traded in the interbank market.

China’s local government debts hit 10.7 trillion yuan at the end of 2010, equivalent to about 27 percent of gross domestic product, according to a report from the National Audit Office. Although some local governments are facing higher risks in repaying their debts, the nation’s overall risk is relatively low, said Xu.

Contact the writers at lanlan@chinadaily.com.cn and wangzhuoqiong@chinadaily.com.cn.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 日本熟女毛茸茸 | 国内精品久久久久久 | 欧美脚交视频 | 日本一级大毛片a一 | 日韩亚洲一区二区 | 国产性在线 | 欧美第一页| 日本午夜免费 | 五月婷婷免费视频 | 久久精品天堂 | 精品自拍视频 | www日本黄色 | 色视频在线观看 | 欧美日韩影视 | av网址在线免费观看 | 国产精品视频导航 | 欧美日韩啪啪 | 成人性视频在线 | 伊人网av | 99热这里只有精 | 国产精品v欧美精品v日韩 | 亚洲网站在线 | 亚洲欧美另类自拍 | 国产福利在线视频 | 国产福利视频导航 | 超碰97在线免费观看 | 精品视频久久久久久 | 国产成人免费在线 | 91精品入口 | 美日韩视频 | 精品免费| 国产高潮呻吟久久久 | 久久久久国产 | 玖玖精品在线视频 | 美女久久久久久 | 丁香六月激情综合 | 日韩在线欧美在线 | 欧美成人三级在线观看 | av在线黄| 天堂俺去俺来也www久久婷婷 | aaa国产|