<tt id="6hsgl"><pre id="6hsgl"><pre id="6hsgl"></pre></pre></tt>
          <nav id="6hsgl"><th id="6hsgl"></th></nav>
          国产免费网站看v片元遮挡,一亚洲一区二区中文字幕,波多野结衣一区二区免费视频,天天色综网,久久综合给合久久狠狠狠,男人的天堂av一二三区,午夜福利看片在线观看,亚洲中文字幕在线无码一区二区
          USEUROPEAFRICAASIA 中文雙語Fran?ais
          Business
          Home / Business / View

          Govt debt and urbanization

          By Mike Bastin | China Daily | Updated: 2013-07-31 09:49

          The State Council, China's cabinet, has directed the National Audit Office to audit all local government debt accounts, reflecting the rising concern over debt levels amid the economic slowdown. Of late, disappointing trade figures, combined with lower than expected second quarter GDP figures, have increased the pressure on the central government to introduce some sort of financial stimulus package to boost the economy.

          Many experts, however, are warning against any such stimulus for the urbanization drive. The problem is local governments' debts, which have been in the news ever since the central government announced a 4-trillion-yuan ($652-billion) stimulus package in 2008 to overcome the shocks of the global financial crisis. In fact, the experts say it's the stimulus that helped create this mountain of debt.

          According to official data, local government debts today exceed 12 trillion yuan, although ratings agency Fitcsh suggests the figure could be as high as 13 trillion yuan, or a quarter of China's GDP.

          Fears that fresh, and perhaps substantial, funds (or rather loans) from the central to the local governments will add to this mountain of debt are well founded. But local governments' reckless lending and profligate spending alone cannot be blamed for the problem.

          Changes in the tax laws in 1994 forced local governments to depend on areas other than taxation as their main source of revenue. And they found land (or the transfer of land-use rights) a convenient and lucrative alternative. Since local governments cannot depend on income from taxation, one can understand their desperation to seize the opportunity offered by land.

          But with local government debts threatening to turn into a national debt crisis, the central government has to either exercise tighter control or change its funding pattern. The central government has to take immediate measures to rein in excessive local government spending and enforce austere spending limits. For instance, it can impose severe financial penalties on local governments that cross their spending limit. In this regard, China could learn from the United Kingdom where local government finances are strictly managed.

          To prevent the recurrence of such humungous local government debt in the long term, the central government should review the nature of urbanization and determine whether spending and debt are vital ingredients of urbanization.

          Previous 1 2 Next

          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: 精品亚洲女同一区二区| 最新亚洲人成网站在线观看| 一本无码在线观看| 欧美大胆老熟妇乱子伦视频| 97精品伊人久久久大香线蕉| 久久精品无码专区免费青青| 久久夜色精品国产亚av| 成码无人AV片在线电影网站| 青青草成人免费自拍视频| 日本中文字幕有码在线视频| 国产精品疯狂输出jk草莓视频| 中文字幕在线日韩| 国产精品日韩精品日韩| 三级全黄的全黄三级三级播放| 在线国产精品中文字幕| 亚洲国产精品乱码一区二区| 无码熟妇人妻av影音先锋| jizz国产免费观看| 国产精品一区二区三区卡| 亚洲国产成人精品无码区蜜柚| 婷婷丁香五月深爱憿情网| 色噜噜久久综合伊人一本| 久久国产精品免费一区二区| 国产对白老熟女正在播放| 国产成人免费高清激情视频| 国产一区在线播放av| 熟妇啊轻点灬大JI巴太粗| 亚洲老女人区一区二视频| 成在人线av无码免观看午夜网| 国产午夜精品一区二区三| 亚洲国产成人精品av区按摩| 乱人伦中文字幕成人网站在线| 人人人爽人人爽人人av| 日韩精品精品一区二区三区 | 国产午夜精品理论大片| 激情 自拍 另类 亚洲| 日韩黄色av一区二区三区| 国产精品白嫩初高生免费视频| 久久久久88色偷偷| 国产做无码视频在线观看| 香港三日本三级少妇三级视频|