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 / Economy

Local growth bottoms out in second quarter

By Zheng Yangpeng (China Daily) Updated: 2014-07-22 07:30

Local governments' pivot to growth also played a role. In a sign of growing frustration over local governments' inertia in implementing the pro-growth and reform directives, the State Council sent eight inspection teams around China in late June.

In a meeting last week, local officials were criticized by the cabinet for being "lazy and slack" as officials kept their heads down to stay out of trouble during the anti-corruption campaign.

Local growth bottoms out in second quarter
China's H1 growth up 7.4%, showing economic resilience 
Local growth bottoms out in second quarter
Top 10 regions with highest GDP in China 
In recent weeks, regional governments have announced their own versions of "stimulus" programs. Northern Hebei province will invest 1.2 trillion yuan in a range of areas including railways, energy and housing. Northeast Heilongjiang will spend more than 300 billion yuan over two years in several sectors, including infrastructure and mining.

Guangzhou, capital of Guangdong province, will invest 800 billion yuan in the next few years to upgrade its urban infrastructure, mostly transportation.

Local governments have also been active in approaching the National Development and Reform Commission to secure approval for large-scale investment projects. Officials from Hubei, Jiangxi and Sichuan visited the top economic planner hoping to speed up approval of their applications for such projects, Chinese media reported.

"This is one of many clear signs that the economy is still relying on debt-fueled spending to maintain growth," said Stephen Green, Standard Chartered Plc's head of China research, who estimated total debt has climbed to 251 percent of the country's GDP.

Wang Tao, chief China economist at UBS AG, said local investment plans are relatively small compared with nationwide totals and it is hard to judge whether the spending is new or part of earlier plans.

But "as the most direct way to boost investment and growth, increased investment in infrastructure and public services will be an indispensable part of the policy mix," said Wang.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
敖汉旗| 宝山区| 赤城县| 柳江县| 台南县| 准格尔旗| 长寿区| 榆林市| 澜沧| 兴隆县| 鲜城| 龙井市| 长泰县| 泗水县| 维西| 个旧市| 锦屏县| 渭南市| 平利县| 纳雍县| 资中县| 平顶山市| 罗田县| 莱阳市| 宁波市| 永济市| 秀山| 察隅县| 万盛区| 遂川县| 苏尼特右旗| 石楼县| 奇台县| 丹寨县| 太谷县| 绿春县| 启东市| 天祝| 将乐县| 九龙城区| 曲松县|