久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

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

Massive debt plagues local govt

By WEI TIAN | China Daily | Updated: 2013-07-01 03:11

Additionally, local authorities have also been relying on "irregular financing channels" to raise money, such as wealth management products issued by local commercial banks, as well as delaying payments on construction projects, the audit office's report said.

"This development also poses a risk because a portion of these transactions is not recorded as debt obligation on balance sheets and, therefore, adds a further layer of complexity in determining local government debt levels," Roane said.

"Some of these products bear interest rates as high as 17.5 percent. The People's Bank of China has a 5.6 percent benchmark loan rate. This adds to the debt burden and creates budget pressure for some entities."

As for the surveyed local governments, bank loans remain the largest source of financing for local governments, accounting for 78 percent of the total balance by the end of 2012, but their share has decreased by 5.6 percentage points since 2010.

In comparison, debt issuance and other borrowings have rocketed by 62 percent and 125 percent respectively during the same period. "Such figures are also representative of other local governments across the country," Zhao said.

He said bank loans and bond issuance together account for approximately 90 percent of the debt on local government balance sheets, while the other 10 percent consists of private equity funds and default on construction payments.

According to a calculation by The Economic Observer, local governments will face two trillion yuan in debts due this year. That accounts for nearly 20 percent of their fiscal revenue and more than half of the fees from land sales.

"Such a large amount of payments would definitely hinder local governments' investment ability and, therefore, add pressure on local economic growth," said Wang Yongjun, director of the Institute for Finance and Economics Research at Central University of Finance and Economics.

To deal with the problem, experts are calling for an increase in local government revenues by up to 2 trillion yuan a year by means of a series of reforms in taxation and income division between local and central government.

"The challenge of the local government debt issue will definitely push forward further reform in the fiscal system but such reform is not restricted to simply seeking more revenue for local governments," Zhao said.

He added that 85 percent of the fiscal revenue in 2012 ended up in the pockets of local authorities so there will not be much room for improvement.

"The main problem is the inconsistency of liabilities in the investment, approval and construction of local government projects," Zhao said,

He also suggested the financing source of a public project must be approved before it gets to the construction stage.

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
 
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    樱桃视频在线观看一区| 亚洲影视资源网| 成人av资源站| 亚洲免费观看高清完整版在线观看| 91黄视频在线观看| 肉丝袜脚交视频一区二区| 日韩免费一区二区| 国产成人8x视频一区二区| 亚洲女厕所小便bbb| 欧美日韩午夜在线| 精品亚洲成a人| 中文字幕在线一区免费| 欧美三级乱人伦电影| 久久机这里只有精品| 中文字幕乱码亚洲精品一区| 欧美在线观看禁18| 久久99这里只有精品| 中文字幕高清一区| 欧美视频在线观看一区| 国模套图日韩精品一区二区| 最新日韩av在线| 91精品在线免费观看| 国产高清在线观看免费不卡| 亚洲欧美激情视频在线观看一区二区三区| 欧美精品粉嫩高潮一区二区| 国产精品综合一区二区三区| 一区二区三区四区亚洲| 欧美成人一区二区三区在线观看| 丁香婷婷综合五月| 午夜精品久久久久久久久久久| www亚洲一区| 色8久久人人97超碰香蕉987| 精品在线播放午夜| 一区二区三区产品免费精品久久75| 欧美一区二区观看视频| 成人18精品视频| 日韩福利电影在线| 日韩一区在线播放| 日韩视频免费观看高清完整版在线观看 | 日本高清免费不卡视频| 蜜桃av一区二区在线观看| 综合电影一区二区三区| 日韩欧美中文一区| 色女孩综合影院| 久久99热这里只有精品| 亚洲黄色录像片| 久久九九国产精品| 欧美日韩国产小视频在线观看| 国产不卡免费视频| 日韩av一区二区三区| 亚洲欧洲精品一区二区三区不卡| 日韩欧美一区二区在线视频| 色综合视频在线观看| 国产一区二区在线视频| 婷婷久久综合九色综合伊人色| 国产精品私房写真福利视频| 欧美一区二区三区公司| 91啦中文在线观看| 国产二区国产一区在线观看| 奇米精品一区二区三区在线观看一| 日韩美女视频一区| 久久精品人人做人人综合| 欧美精品18+| 91福利区一区二区三区| 福利电影一区二区三区| 久草在线在线精品观看| 天天色天天操综合| 亚洲一区二区三区在线看| 中文字幕一区二区三区四区不卡| 26uuuu精品一区二区| 欧美一区二区精品久久911| 欧美午夜宅男影院| 色综合天天综合色综合av| 国产成人午夜精品影院观看视频| 午夜精品免费在线观看| 一区二区三区精品在线| 国产精品成人一区二区艾草 | 国产成人一区二区精品非洲| 免费视频一区二区| 婷婷综合另类小说色区| 亚洲综合无码一区二区| 亚洲精品水蜜桃| 国产精品国产三级国产| 欧美国产激情一区二区三区蜜月| 26uuu欧美| 欧美电视剧免费全集观看 | 欧美日韩成人一区| 欧美亚洲高清一区| 色88888久久久久久影院野外| 99久久久久久| 波波电影院一区二区三区| 成人午夜电影久久影院| 国产福利电影一区二区三区| 国产真实乱子伦精品视频| 久久激情五月激情| 久久草av在线| 另类成人小视频在线| 美女一区二区视频| 日本中文字幕不卡| 美女精品自拍一二三四| 久久精品国内一区二区三区| 免费高清在线一区| 久久精品国产亚洲高清剧情介绍| 免费在线观看视频一区| 美日韩黄色大片| 久草精品在线观看| 国产麻豆精品theporn| 国产精品1区2区| 成人黄色免费短视频| av在线不卡网| 色综合欧美在线| 欧美亚洲一区二区在线观看| 欧美吞精做爰啪啪高潮| 欧美巨大另类极品videosbest | 视频一区视频二区中文| 日韩精品成人一区二区在线| 蜜臀精品一区二区三区在线观看| 六月丁香婷婷久久| 国产曰批免费观看久久久| 国产精品2024| 99久久国产综合色|国产精品| 色偷偷久久一区二区三区| 欧美日韩精品一区视频| 日韩欧美的一区| 久久九九99视频| 亚洲人成精品久久久久久| 一区二区三区久久久| 日韩成人av影视| 黄色日韩网站视频| 成人免费观看视频| 欧美在线一二三四区| 宅男噜噜噜66一区二区66| 欧美成人精品高清在线播放| 欧美国产精品劲爆| 一区二区三区在线观看网站| 亚洲gay无套男同| 裸体一区二区三区| 成人在线视频首页| 欧美亚洲一区二区在线观看| 日韩片之四级片| 国产精品乱人伦中文| 亚洲一区二区三区爽爽爽爽爽| 日本亚洲天堂网| 国产精品18久久久| 色欧美乱欧美15图片| 欧美一级午夜免费电影| 国产精品麻豆久久久| 午夜精品123| 国产成人精品影院| 91福利在线导航| 欧美大片一区二区三区| 中文字幕在线观看不卡视频| 天天影视涩香欲综合网| 国产成人亚洲综合a∨婷婷| 91九色最新地址| 精品久久国产字幕高潮| 亚洲欧美一区二区不卡| 九九九精品视频| 色94色欧美sute亚洲13| 久久综合中文字幕| 一区二区三区在线观看欧美| 精品一区二区三区在线播放| 色婷婷av一区二区三区大白胸| 日韩午夜在线观看| 亚洲欧美视频一区| 精彩视频一区二区三区| 日本韩国一区二区三区| 精品国产凹凸成av人网站| 亚洲精品国产成人久久av盗摄| 精品在线播放免费| 欧美视频在线一区| 国产精品婷婷午夜在线观看| 天堂成人免费av电影一区| 福利一区二区在线观看| 欧美一级黄色录像| 亚洲欧美成人一区二区三区| 激情国产一区二区| 欧美人狂配大交3d怪物一区| 国产精品三级电影| 免费成人在线观看视频| 色94色欧美sute亚洲线路二| 久久久久久日产精品| 偷偷要91色婷婷| 91一区二区三区在线播放| 国产亚洲视频系列| 免费观看久久久4p| 欧美丝袜自拍制服另类| 国产精品日产欧美久久久久| 美女mm1313爽爽久久久蜜臀| 欧洲一区二区三区免费视频| 久久精品亚洲一区二区三区浴池| 午夜精品国产更新| 色婷婷综合五月| 日本一二三不卡| 国内外精品视频| 7777精品伊人久久久大香线蕉经典版下载 | 国产精品伦理在线| 精品一区在线看| 在线不卡的av| 亚洲免费观看高清完整版在线观看|