三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

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

Guideline is set on local govt debt risk

By Xin Zhiming | China Daily | Updated: 2016-11-16 09:57

Guideline is set on local govt debt risk

Chinese 100 yuan banknotes are seen on a counter of a branch of a commercial bank in Beijing, March 30, 2016. [Photo/Agencies]

China released a contingency guideline on Monday for handling local government debt problems, a move that analysts said is part of the country's fiscal reform to strengthen budget management and prevent its government debts from ballooning.

The guideline specifies for the first time four types of "debt risk events" and corresponding emergency responses. Local governments will take full responsibility for paying debt through such emergency measures as scaling down infrastructure investment, reducing government expenditures, making use of land sales and selling assets.

It also sent a warning to local governments that they would not be bailed out in the event of any local debt crisis.

In addition, officials and bank managers responsible for any crisis would be held accountable.

The implementation of the guideline will help improve the capabilities of local governments in the monitoring and early warning of risks and ensure that no regional financial crisis would erupt, according to a statement by the Ministry of Finance on Monday.

"The guideline is part of the country's consistent budgetary balance strategy in recent years," said Dong Yuping, an economist of the Institute of Finance and Banking at the Chinese Academy of Social Sciences. "It does not mean there is any imminent danger of debt crisis eruption."

China's local government debt totaled 16 trillion yuan ($2.34 trillion) at the end of 2015. Even if the central government debt is taken into account, the ratio of China's government debt to GDP remains low, analysts said.

China began trying to put local government debt under control soon after the implementation of the country's massive 4 trillion yuan stimulus plan in late 2008, which led to a strong rise in local government borrowing.

In 2009, China issued a document to strictly control local financing platforms, such as city investment companies, that were used by local governments to circumvent central regulation and borrow. To meet the financing demand of the local governments, China revised the Budget Law in 2014, after which local government could directly issue bonds.

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: 国产一级做a爰片久久毛片男 | 国产亚洲综合一区二区在线 | 午夜宅男宅女 | 精品外国呦系列在线观看 | 日本高清免费中文字幕不卡 | 啪啪免费网站入口链接 | 国产精品国产三级国产爱网 | 1024手机在线播放 | 视频一区二区在线观看 | 色综合久久九月婷婷色综合 | 国产在线拍国产拍拍偷 | 神马午夜51| 天天色综合天天 | 国产免费人做爰午夜视频 | 久久成人国产精品青青 | 韩国免费人成在线观看网站 | 亚洲一区二区三区免费看 | 妞干网欧美 | 开心激情站 | 日韩精品免费视频 | 丁香亚洲综合五月天婷婷 | 亚洲人成在线精品不卡网 | 成人精品网 | 国产成人无精品久久久 | 香港经典a毛片免费观看爽爽影院 | 久久久久久久综合 | 在线观看91精品国产入口 | 美女久久精品 | 在线日本看片免费人成视久网 | 欧美一级做a爰片久毛片 | 午夜水蜜桃视频在线观看 | 久久视频精品线视频在线网站 | 香蕉视频在线观看免费 | 久久91精品国产91久久 | 国产免费高清mv视频在线观看 | 中文字幕国产欧美 | 97视频精品 | 欧美三级一区二区三区 | 日韩一区二区精品久久高清 | 婷婷丁香啪啪 | 免费观看的黄色 |