www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Economy

Idle govt funds reportedly seized for use

By Zheng Yangpeng (China Daily) Updated: 2015-09-16 10:19

Central authorities have seized up to 1 trillion yuan ($157 billion) from local governments that failed to spend their budget allocations, Reuters reported on Monday, citing unidentified sources.

The news came as China's fiscal income slumped again to single-digit growth in August after two consecutive months of double-digit growth.

The country's fiscal revenue in August rose by 6.2 percent year-on-year, according to a Finance Ministry statement on Tuesday. Growth in July was 12.5 percent, and in June it was 13.9 percent.

While the ministry declined to confirm the Reuters report, there were signs that Beijing is increasingly concerned with the scenario that, while the government must bolster fiscal spending to counter a cooling economy, considerable funds sit idle in the bank.

In June, the National Audit Office unveiled in its half-year audit report that a total of 1.19 trillion yuan was unspent by the 18 provincial governments that it audited by the end of last year, and another 149.5 billion yuan was idle in the central ministries it had audited.

It was not clear whether the 1.19 trillion yuan reported by the audit office was what had been confiscated, according to the Reuters report, which said the seized money was to be used for other investments, as growth for the year looks increasingly likely to fall below 7 percent.

One trillion yuan is equivalent to about 6 percent of China's projected total government spending for this year.

In a meeting in July, Premier Li Keqiang said various levels of government have repossessed more than 250 billion yuan in idle funds and spent the money in areas that urgently need funding.

The problem of "dormant" government funds is a long-standing issue that exposes vast inefficiency in the government budget system.

Treasury savings by various levels of government hit 4.44 trillion yuan by the end of August, and savings of other government-affiliated institutions (such as universities, hospitals and research institutes) exceeded 20 trillion yuan by the end of June, according to People's Bank of China. These deposits have a very limited investment scope that usually reaps a return of less than 3 percent.

Zhang Bin, a researcher with the National Academy of Economic Strategy of the Chinese Academy of Social Sciences, said a portion of the unspent money is "special-purpose governmental funds" that could not be spent in any area except that for which they were dedicated, even if other areas badly need money.

Another portion of the unspent money is earmarked for specific projects, but due to various factors, the projects haven't started so the money is waiting. Yet another portion is the result of a lagging pace of budget implementation.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产精品二区页在线播放 | 美美女高清毛片视频黄的一免费 | 国产黄色三级三级三级 | 成人黄网18免费观看的网站 | 69精品免费视频 | 亚洲国产网站 | 99久久综合给久久精品 | 国产欧美日韩在线人成aaaa | 中文三 级 黄 色 片 | 国产91区| 乱人伦中文视频在线 | 久久国产免费观看精品1 | 亚洲国产综合人成综合网站00 | 欧美一级二级片 | 美女张开腿让男人桶爽免费网站 | 精品视频在线观看一区二区三区 | 加勒比一区在线 | 一级特色大黄美女播放网站 | 免费a网| 亚洲1314 | 国产精选在线播放 | 在线亚洲精品 | 亚洲国产99在线精品一区二区 | 精品色综合 | 亚洲精品国产一区二区三区在 | 全球成人网 | 午夜性色福利视频在线视频 | 老司机精品福利视频 | 在线观看精品视频一区二区三区 | 欧美日韩国产免费一区二区三区 | 色精品视频 | 免费看日韩欧美一级毛片 | 欧美毛片大全 | 久久九九久精品国产 | 免费一级肉体全黄毛片 | 亚洲天堂视频在线观看 | 免费一级在线观看 | 亚洲国产最新在线一区二区 | 九一国产 | 成人a毛片免费视频观看 | 高清欧美日本视频免费观看 |