久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

US EUROPE AFRICA ASIA 中文
Business / Policy Watch

Local govt bonds are poised for approval

By ZHAO YINAN/ZHENG YANGPENG (China Daily) Updated: 2014-04-22 07:50

State Council would set quota system on debt, but only under strict conditions

China may allow local governments to sell municipal bonds under narrow parameters in a move to regulate their borrowing and reduce systemic risk.

Qualified provincial-level governments that win approval from the State Council, the country's cabinet, will be able to raise some of the funds needed for construction projects through bonds, if a draft amendment to the Budget Law is approved by the top legislature.

Local govt bonds are poised for approval

Local govt bonds are poised for approval

The draft amendment, which was submitted on Monday to the National People's Congress Standing Committee, sets strict conditions for such debt issues.

The scale of any debt issue must be within the quotas approved by the NPC as well as local legislatures. Debt proposals will only be approved if there is a stable revenue stream to cover repayments, and proceeds of such issues can't be used for current expenditures.

Except under these conditions, local governments may not issue bonds or provide a guaranty to any institution or individual.

Officials found to be directly responsible for illegal bond issues will be dismissed, the draft said.

It's the first time for the nation to formulate explicit rules and supervisory principles for local government bond sales.

The current Budget Law, which is some two decades old, bars most debt issues by local governments.

But governments at all levels have managed to raise funds in recent years through bank loans or via local government financing vehicles to pay for a plethora of infrastructure projects.

A survey by the National Audit Office found that as of June 30, 2013, local government debt and contingent liabilities surged to about 17.89 trillion yuan ($2.9 trillion), a 67 percent rise from the previous estimate of 10.7 trillion yuan at the end of 2010.

Much of this debt, especially that raised through LGFVs, poses a systemic risk because of its opacity, said Liu Jianwen, head of the Fiscal and Economic Law Research Center at Peking University.

Local govt bonds are poised for approval

Local govt bonds are poised for approval

Top 10 countries with highest GDP in 2013  Top 10 regions with highest GDP in China 

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 杨幂国产精品福利在线观看 | 黄 色 成 年人网站 黄 色 免费网 站 成 人 | 久久最新 | 久久福利青草精品资源 | 久久91精品国产91久久小草 | 成人欧美视频免费看黄黄 | 美女扒开腿让男人桶爽免费动态图 | 日韩一区二区三 | 一区二区三区欧美视频 | 在线国产一区二区 | 在线观看免费黄色网址 | 欧美日本一区二区 | 日本高清不卡在线观看 | 日韩精品中文字幕一区二区三区 | 久色乳综合思思在线视频 | 一级片免费视频 | 一本久道久久综合婷婷 | 中国一级毛片录像 | 国产一级特黄特色aa毛片 | 久久日本精品一区二区免费 | 草草在线免费视频 | 久久国产精品-久久精品 | 韩国精品一区二区三区在线观看 | 中文字幕在线一区二区在线 | 欧美久久久久欧美一区 | 亚洲影院国产 | 中文字幕 亚洲一区 | 久久99视频| 91理论片午午伦夜理片久久 | 在线免费观看毛片网站 | 特黄特黄一级高清免费大片 | 成人影院一区二区三区 | 三级毛片大全 | 伊人狼人影院 | 97欧美精品一区二区三区 | 成人禁在线观看网站 | 欧美一区二区三区在线 | 久久99久久成人免费播放 | 国产亚洲精品久久久久久久网站 | 国内精自线一二区 | 欧美日韩一区二区在线视频 |