Call for look into local financing
By Hu Xiaocen |
June 29, 2012, Friday
|
Print Edition
Print Edition
A reform of the way local government financing is carried out should be undertaken because the huge government debt has raised concerns about the slowing Chinese economy.
Several economists, researchers and bankers made the call for the reform during the Night Chat by the Huangpu River, part of the three-day Lujiazui Forum which opened in Shanghai yesterday.
Jia Kang, head of the Research Institute for Fiscal Science of the Ministry of Finance, advocated a partial replacement of the local government financing platform with other funding channels that are more transparent and stable.
"The trial program last year that allowed local governments to issue bonds directly is the right path for government financing," Jia argued. "As a researcher, I don't understand why the draft revision to the budget law removed the article that allows local authorities to issue bonds directly."
Several economists, researchers and bankers made the call for the reform during the Night Chat by the Huangpu River, part of the three-day Lujiazui Forum which opened in Shanghai yesterday.
Jia Kang, head of the Research Institute for Fiscal Science of the Ministry of Finance, advocated a partial replacement of the local government financing platform with other funding channels that are more transparent and stable.
"The trial program last year that allowed local governments to issue bonds directly is the right path for government financing," Jia argued. "As a researcher, I don't understand why the draft revision to the budget law removed the article that allows local authorities to issue bonds directly."
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
