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

Make me your Homepage
left corner left corner
China Daily Website

Local debts not to drag China into financial crisis

Updated: 2013-09-04 09:48
( Xinhua)

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, 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 shot up to double digits.

Shadow banking, especially wealth management products, 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.

 
8.03K
 
...
主站蜘蛛池模板: 国产在线成人精品 | 香蕉香蕉国产片一级一级毛片 | 宫女淫春| 日韩免费观看的一级毛片 | 撸天堂| 91香蕉视频免费 | 成人在线中文字幕 | 日韩三级在线观看 | 中国一级毛片在线观看 | 国产激爽大片在线播放 | 亚洲国产福利精品一区二区 | 欧美成人26uuu欧美毛片 | 国产乱码一区二区三区四 | 国产视频自拍偷拍 | 伊人色综合久久天天人手人停 | 亚洲欧美日韩精品久久亚洲区色播 | 男女免费爽爽爽在线视频 | 久久中文字幕乱码免费 | 欧美亚洲另类久久综合 | 美国毛片基地a级e片 | 九九精品在线观看 | 亚洲经典在线 | 久爱www免费人成福利播放 | 老色歌uuu26 老师张开腿让我爽了一夜视频 | 亚洲综合久久综合激情久久 | 欧美成人免费全网站大片 | 日本视频在线观看不卡高清免费 | 国产午夜在线观看视频播放 | 亚洲一区二区三区在线 | 久久精品国产免费一区 | 日韩一区二区三区视频在线观看 | 日韩美女一区二区三区 | 91日韩精品天海翼在线观看 | 久艹在线观看视频 | 成人午夜兔费观看网站 | 国产色啪午夜免费视频 | 国产国语一级毛片全部 | 王朝影院一区二区三区入口 | 国产一级在线观看www色 | 久久成人小视频 | 国产看片一区二区三区 |