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

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Macro

Local debts not to drag China into a financial crisis

Xinhua | Updated: 2013-09-04 08:49

SHENYANG - As Chinese economy shows signs of picking up, analysts say shadow banking and local government debt, two major financial worries during the past few months, are less likely now to bring down the world's second-largest economy.

While containing financial expansion is vital to keep the Chinese economy healthy, the market was concerned that the transition could mean a hard landing. Recent improvements, however, show the market might have been overanxious.

China's manufacturing activity rebounded into mild expansion after three months of weakness. Major Chinese industrial firms saw their combined profits rise 11.6 percent year on year in July, quickening from the 6.3-percent rate seen in June.

Economists said the improvements followed easy money at the beginning of the year as well as the government's moves to stabilize growth.

"The Chinese economy is shifting gear. But it doesn't necessarily mean it will stall. If so, market confidence will be badly hit. We can not stimulate the economy blindly, nor can we let the growth drop below a reasonable level," said Wang Yiming, deputy director of academy of macro-economy at the National Development and Reform Commission (NDRC), China's top economic planner.

"Some problems accumulated in the high-growth era will be exposed when economic growth slows," Wang added.

A credit crunch in June alerted investors to China's financial woes. Interbank lending was nearly frozen when 7-day Repo Rate and Shanghai Interbank Offered Rate (SHIBOR) shot up to double digits.

Shadow banking, especially wealth management products (WMPs), were pinned main causes for the money shortage.

Economists feared the shadow banking nerves, together with massive local government debt, might trigger a financial crisis as China's economic growth slowed down to 7.5 percent in the second quarter, a rate much lower than the two-digit growth seen in the past three decades.

Shang Fulin, chairman of the China Banking Regulatory Commission, said most trust and wealth management products strictly regulated, and the risks of shadow banking were controllable.

Meanwhile, local government debt, though rising despite rigid curtailment, could be effectively resolved, some analysts claimed.

Chinese local governments had amassed 10.7 trillion yuan ($1.7 trillion) debt at the end of 2010. According to an audit of 36 local governments by the National Audit Office, their debt increased 12.9 percent from the end of 2010 to the end of 2012.

"Even though, there are not many bad debts among the massive government debt," said Lin Muxi, an economist at Liaoning University.

"Many debts are related to good assets, like transportation infrastructure and affordable housing projects. The terms may be long, but the debts are repayable," Lin said.

Song Li, vice director of the research center of economy at NDRC, said Chinese local governments were caught into a liquidity issue, but the issue would only be short-term.

"What Chinese local governments encounter are financial problems, so we need to look at local debts more objectively," he said.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 国内自拍一区 | 日韩加勒比 | 成人在线观看一区 | 久久综合香蕉久久久久久久 | 久久色国产 | 欧美性色生活免费观看 | 亚洲欧美在线精品一区二区 | 精品久久影院 | 一级毛毛片毛片毛片毛片在线看 | 免费观看一区二区 | 免费一级毛片私人影院a行 免费一级毛片无毒不卡 | 免费国产成人综合 | 亚洲影院在线播放 | 国产成人av性色在线影院 | 男人天堂网在线观看 | 在线视频观看免费视频18 | 伊人久热这里只有精品视频99 | 美女视频黄色在线观看 | 中文在线com | 亚洲女人在线 | 亚洲欧美高清 | 韩国美女一级片 | 久久国产精品最新一区 | 午夜宅男在线永久免费观看网 | 久久久久久88色愉愉 | 久久精品国产精品青草不卡 | 国产aⅴ一区二区 | 中文字幕亚洲精品第一区 | 亚洲国产成人99精品激情在线 | 久夜色精品国产一区二区三区 | 91国内精品久久久久怡红院 | 欧美三级视频在线观看 | 日本一区二区在线 | 亚洲精品中文字幕一区 | 爱综合 | 国产第四页 | 农村寡妇一级毛片免费播放 | 韩国午夜三级理论 | 欧美性色黄大片www 欧美性色黄大片一级毛片视频 | 黄网在线免费 | 国产精品videossex另类 |