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

left corner left corner
China Daily Website

Local debt concerns

Updated: 2012-08-30 08:14
( China Daily)

The Chinese Finance Minister has said the country's county-level governments have seen their fiscal conditions improve significantly.

While this news offers some cause for relief, policymakers should not let their guard down amid the persistent debt burdens that local governments find themselves laboring under.

Things have gone smoothly in China's use of a fiscal-guarantee mechanism to ensure that county-level governments have the resources they need to carry out their duties, Xie Xuren, minister of finance, told national lawmakers on Wednesday.

Since 1994, when the country reformed its tax distribution system in a way that caused more revenue to go to the central government, local governments have complained that they lack the resources they need.

The concerns have only become stronger in recent years, leading some local governments to collect fees in what appears to be an arbitrary manner. Many such governments have also taken to borrowing large sums to make up their deficits, becoming heavily indebted as a result.

By the end of 2010, local governments in China carried about 10.7 trillion yuan ($1.7 trillion) in debt, according to official auditing results.

Even so, their fiscal conditions have improved, largely thanks to fiscal transfers from the central government and an increase in tax income, the finance minister said.

In the first seven months of the year, 3.29 trillion yuan was transferred from central coffers to county-level governments, more than 80 percent of the yearly target, the minister said.

Still unknown to the public, though, is the amount of debt these governments carried on their books by the end of 2011, making it difficult to tell if they truly have become less indebted. Debt troubles often come to the fore when general economic conditions worsen, as the recent histories of many Western countries have shown.

A continued deceleration in China's rate of GDP growth will only threaten to make the indebtedness of grassroots governments more harmful to the economy.

Policymakers, therefore, should avoid letting the apparent improvement in county-level government's accounts lull them into complacency.

(China Daily 08/30/2012 page8)

8.03K
...
主站蜘蛛池模板: 99爱视频免费高清在线观看 | 波多野结衣在线观看一区二区三区 | 成人精品综合免费视频 | 欧美亚洲国产精品久久 | 在线观看欧美亚洲日本专区 | 成年女人毛片免费观看97 | 亚洲国产精久久久久久久春色 | 国产男女乱淫真视频全程播放 | 久久国产精品久久久久久久久久 | 久久久99精品免费观看精品 | 欧美日韩一区二区在线观看 | 亚洲天堂男人网 | 成人在线观看网址 | 国产私拍福利精品视频推出 | 精品国产一二三区在线影院 | 日韩在线视频不卡一区二区三区 | yp国产在线观看 | 国产成人精品女人不卡在线 | 久久久久综合国产 | 久草在线新首页 | 九九在线观看视频 | 一及 片日本| 久久久99视频 | 91国语精品自产拍在线观看一 | 久久www免费人成_看片高清 | 91福利国产在线观一区二区 | 国产欧美日韩不卡在线播放在线 | 日本三级香港三级妇三 | 成人免费看www网址入口 | 国产成人精品久久综合 | 国产午夜毛片一区二区三区 | 精品国产一区二区三区四区不 | 久草福利资源在线观看 | 亚洲韩精品欧美一区二区三区 | 国产在线欧美日韩精品一区二区 | 成人免费一区二区三区视频软件 | 宅女深夜福利视频在线 | 久久免费视频精品 | 女人张开双腿让男人桶完整 | 日本一级特黄毛片高清视频 | 亚洲久久网 |