Call for more borrowing transparency
By Wang Yanlin |
June 30, 2013, Sunday
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Print Edition
Print Edition
WHILE it's necessary for governments to borrow to accelerate China's urbanization and sustain economic growth, the process should be more controlled and transparent, a participant at the Lujiazui Forum said yesterday.
"Faster urbanization is top of the agenda of the government," said Ba Shusong, deputy director-general of the Development Research Center under the State Council, China's Cabinet.
"It's unreasonable to forbid a government from borrowing money for urbanization.
"But the current system is not transparent enough, which can lead to government debts and put the economy at risk," Ba added.
Ba said government at all levels should produce balance sheets and make these public.
"Faster urbanization is top of the agenda of the government," said Ba Shusong, deputy director-general of the Development Research Center under the State Council, China's Cabinet.
"It's unreasonable to forbid a government from borrowing money for urbanization.
"But the current system is not transparent enough, which can lead to government debts and put the economy at risk," Ba added.
Ba said government at all levels should produce balance sheets and make these public.
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