国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Markets

Most local govt debt 'controllable', says banker

By Cai Xiao (China Daily) Updated: 2014-05-15 10:35

The investment return of China's local government debt is good, and its risk can be controlled, the chairman of the Export-Import Bank of China said on Wednesday.

"Most funds borrowed by local governments are used for infrastructure construction, which generates good investment returns and promotes the development of the local economy," said Li Ruogu, chairman of the Export-Import Bank of China.

"The risk of the debt can be controlled, and the debt level is lower than in many developed economies," Li added.

Most local govt debt 'controllable', says banker
Most local govt debt 'controllable', says banker

Most local govt debt 'controllable', says banker

By the end of 2012, the direct debt of China's local governments stood at 36.7 percent of the nation's GDP, according to the National Audit Office. At the same time, the public debt of the United States was 104 percent of that country's GDP.

"It is estimated that the ratio of China will not exceed 60 percent, which is the internationally recognized warning line, "said Li.

Li added that China should set up a system that confirms the responsibilities of debt issuers, including local governments and enterprises, which can reduce risk.

China should promote budget reform to strengthen the debt limit, said Liu Yuhui, an economist with the Institute of Finance and Banking at the Chinese Academy of Social Sciences.

Premier Li Keqiang said in March that the level of local government debt is within control but promised to take further regulatory steps, including putting debt under budgetary management, to strengthen oversight.

"We will establish a standard financing mechanism with which local governments can issue bonds and place local government debt under budgetary management," said the government report delivered by the premier at the opening of the annual session of the National People's Congress earlier this year.

Bank of America Merrill Lynch Chief China Economist Lu Ting said in a research note that local governments will likely borrow through regulated channels, as the premier promised.

Li Ruogu, the Export-Import Bank of China chairman, also said on Wednesday that it is baseless to say that China is overissuing currency.

According to him, China is mainly engaged in indirect financing through commercial banks and the scale of the country's stock and bond markets is still relatively small.

"That's why China's ratio of money supply to GDP is comparatively high, but it is still lower than that of Japan, Singapore, South Korea or the Eurozone," Li said.

Hot Topics

Editor's Picks
...
...
南华县| 湄潭县| 长武县| 江孜县| 申扎县| 林州市| 黑山县| 兰州市| 汝城县| 交口县| 禄劝| 嘉黎县| 五指山市| 利川市| 讷河市| 林芝县| 南城县| 达尔| 恩施市| 交城县| 南溪县| 嘉善县| 景泰县| 闽清县| 嘉黎县| 阿尔山市| 苗栗县| 南城县| 纳雍县| 定州市| 通州市| 中山市| 马公市| 乌审旗| 商水县| 德格县| 石柱| 鄂伦春自治旗| 牙克石市| 铅山县| 澄迈县|