男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影

Money

Bond sales to unravel debt picture of local govts

By Wang Bo (China Daily)
Updated: 2010-08-11 09:18
Large Medium Small

BEIJING - China needs to expand the scale of its local government bonds issuance to better understand the hidden debts of local governments, a top government think tank economist said on Tuesday.

"Bond issuances by local governments is a healthy and transparent way to get funds, but whether its size can be expanded depends on further modifications in the country's budget laws and regulatory rules," Jia Kang, head of the research institute for fiscal science under the Ministry of Finance, told China Daily.

Related readings:
Bond sales to unravel debt picture of local govts Central Huijin planning bond sales to raise funds
Bond sales to unravel debt picture of local govts ICBC to sell $3.2b subordinated bond as early as August
Bond sales to unravel debt picture of local govts China to vet BOC bond sale on Monday
Bond sales to unravel debt picture of local govts ICBC wins nod on 25b yuan bonds issue

China did not allow local governments to raise funds directly from the market before 2009, and since then has only permitted the Ministry of Finance to issue a limited amount of bonds on behalf of the fund-thirsty local governments.

After ratifications earlier this year, the country's budget law allowed local governments to issue bonds with approval from the State Council.

The insufficient funding channels have prompted local governments to set up special investment vehicles to borrow money from banks, leading to mounting default risks for Chinese commercial lenders.

The situation became worse after the global financial crisis, when the government launched the 4 trillion yuan stimulus package to help bolster flagging economic growth.

The banking regulator had earlier said that lenders may struggle to recover nearly one-fifth of the 7.7 trillion yuan they have lent to local infrastructure projects, as many of them may not generate enough returns to service the debts.

As the latest move to help address the local debt issue, the Ministry of Finance on Monday said it would sell 47 billion yuan ($6.94 billion) bonds on behalf of the local governments in the interbank and stock markets from Tuesday to Thursday.

The bond sale is the third such this year and part of the nation's plans to sell 200 billion yuan of local government debt this year. The bonds are expected to become tradable on Aug 16.

Economists have suggested additional funding channels for local governments will shift the burden from listed lenders, who financed a lion's share of the projects.

However, analysts said it is necessary to make a sound evaluation of the fiscal situation of local governments and their ability to service debts before taking the bond issuance to a larger scale.

"Local governments that lack the capacity to repay debts should be blocked from obtaining funds or pay higher interest rates," Liu Yuhui, an economist at the Chinese Academy of Social Sciences, said.

主站蜘蛛池模板: 阳曲县| 高州市| 海林市| 邯郸市| 绥芬河市| 旌德县| 远安县| 清丰县| 临泉县| 克什克腾旗| 铜鼓县| 新田县| 化隆| 交口县| 东明县| 正阳县| 老河口市| 思茅市| 金乡县| 罗甸县| 松阳县| 彰武县| 女性| 晋江市| 德令哈市| 惠东县| 乌拉特前旗| 徐水县| 双鸭山市| 怀宁县| 雅安市| 隆昌县| 六盘水市| 腾冲县| 德昌县| 宁明县| 龙海市| 洮南市| 遂宁市| 深水埗区| 游戏| 吴江市| 宜州市| 拜泉县| 防城港市| 班玛县| 家居| 金昌市| 阿拉尔市| 当涂县| 绩溪县| 巨鹿县| 西峡县| 永丰县| 灌云县| 吴旗县| 宿州市| 威远县| 泸定县| 汾西县| 黔江区| 定结县| 渭源县| 英吉沙县| 开原市| 临安市| 五原县| 阿鲁科尔沁旗| 娄底市| 视频| 巧家县| 周口市| 宁都县| 公主岭市| 无极县| 凤台县| 岑溪市| 巴彦淖尔市| 永平县| 铁岭市| 华池县| 财经|