男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

US EUROPE AFRICA ASIA 中文
Business / Policy Watch

Ministry considers limit on local debt

By Wei Tian (China Daily) Updated: 2012-12-27 09:54

The Ministry of Finance is considering setting a cap on local government debt, a fiscal official said on Wednesday.

The step would be the latest in the country's work to better regulate and improve the structure of local debt, said Zhao Quanhou, head of financial research with the Fiscal Science Research Center, which is affiliated to the Ministry of Finance.

Zhao said efforts to gather detailed information about local government debt are being tested out at the moment.

The program, known as the Government Financial Management Information System, aims to convert "statistical data" released by local authorities into "accounting data", which will be the first step toward establishing a comprehensive management system, he said.

"It will include information on the purpose of items, the source of approval documents and the whereabouts of money."

In setting borrowing limits for local governments, officials will take into account management systems, GDP levels, urbanization and current debts.

"The mechanism is still at the planning stage and has not been made final yet," Zhao said.

A recent report by the State Council's Development and Research Center showed that China's central and local governments had 23.76 trillion yuan ($3.8 trillion) in debts by the end of 2010.

Wei Jianing, who compiled the report, said many of the loans issued in 2009 to battle the global financial crisis are now due. Local debts, in particular, require urgent attention as local authorities see their revenues drop amid a tightening of real estate regulations.

National Audit Office said 42 percent of those debts will come due by the end of 2012, and 53 percent at the end of 2013.

On Tuesday, Guangzhou released data on its local debt, saying the amount stood at 241.4 billion yuan by the end of June.

The city's debt has been decreasing over the past two years. Yet Guangzhou officials are still beset by worries stemming from idle funds and capital flight.

Finance Minister Xie Xuren has called for tougher regulation of local government debt.

Zhao said government debt is now being managed jointly. The National Development and Reform Commission is in charge of approving local projects, banks are responsible for financing and the Ministry of Finance is undertaking various related tasks.

"Government control needs to play a bigger part in the process," he said.

Placing local governments under borrowing limits will force them to consider the best way to allocate the debt they can take on to projects they want to undertake, Zhao said.

weitian@chinadaily.com.cn

 

Related Readings

High local debt levels coming under control

Local debt concerns

China to clean up local govt debt

Local government borrowing up despite curbs

 

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 贵州省| 乌恰县| 库车县| 积石山| 崇文区| 晋城| 东台市| 娄底市| 襄城县| 开封县| 翼城县| 肇庆市| 常熟市| 河东区| 多伦县| 吴江市| 沂水县| 长武县| 乌鲁木齐市| 三台县| 屏边| 云和县| 张家港市| 黄平县| 信阳市| 杂多县| 炉霍县| 深泽县| 扬中市| 稻城县| 盐边县| 清水河县| 喀喇| 勐海县| 汶川县| 商城县| 张家口市| 富裕县| 石嘴山市| 武冈市| 宁德市|