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  • October 23, 2014
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  1. News - China

    Central government public security budget grows 9pc

    Posted Mar 28th 2013, 06:06pm by Chris Luo

    ... Chris Luo chris.luo@scmp.com China unveiled its central government 2013 public security budget this week, which showed a 9 per cent year-on-year increase. China’s Ministry of Finance released the central government’s 2013 budget on Monday, a week after the annual national parliamentary convention. The budget for internal security was set at 128.9 billion yuan (HK$161 billion), ...

    http://www.scmp.com/news/china/article/1201977/central-government-public-security-budget-grows-9pc
  2. News - Hong Kong

    Deficit in 15 years if status quo maintained in education, social welfare and health spending

    Posted Mar 03rd 2014, 06:54pm

    ... Phila Siu phila.siu@scmp.com 'No room for complacency,' government task force warns A government task force has warned of a structural deficit within 15 years even if policies ... that there is “no room for complacency”. The task force has forecast the growth of different categories of government expenditure, assuming there is no inflation and no policy changes. The recurrent ...

    http://www.scmp.com/news/hong-kong/article/1439451/deficit-15-years-if-status-quo-maintained-education-social-welfare
  3. News - Hong Kong - BUDGET

    Time to review Hong Kong tax system, say accountants

    Posted Feb 20th 2013, 12:00am by JOSHUA BUT AND TONY CHEUNG

    ... system? Leading accountancy firms have suggested the government consider broadening the tax base given its growing expenditure and possible budget deficit in the coming years. The top firms agree ... The government's medium-range forecast last year estimated a surplus of HK$3.8 billion for 2013-14. But Jennifer Wong Wan How-yee, a tax partner at KPMG China, said the next budget could go into the red ...

    http://www.scmp.com/news/hong-kong/article/1154121/time-review-hong-kong-tax-system-say-accountants
  4. Comment - Insight & Opinion

    China's new budget law can modernise governance

    Posted Sep 17th 2014, 02:18pm by Hu Shuli

    ... to modernise Chinese governance Three recent items of news deserve attention. First, the revisions to the Budget Law were passed late last month. Second, in a speech this month marking the 60th ... of reform. The three appear unrelated, but are in fact part of China's drive to modernise its governance. And the budget changes can herald a breakthrough in overall reform. A country's ...

    http://www.scmp.com/comment/article/1594568/chinas-new-budget-law-can-modernise-governance
  5. News - World - UNITED KINGDOM

    British finance minister outlines tough new welfare cuts

    Posted Oct 08th 2012, 09:50pm by Agence France-Presse in Birmingham

    ... Agence France-Presse in Birmingham British finance minister George Osborne said on Monday that the government will slash the welfare bill by £10 billion as it seeks to tame a massive ... Osborne also ruled out a so-called “mansion tax” on big houses, a move that is likely to anger the Liberal Democrats, the junior partners in the coalition government who favour squeezing the rich. ...

    http://www.scmp.com/news/world/article/1056563/british-finance-minister-outlines-tough-new-welfare-cuts
  6. News - China - GOVERNMENT

    China changes Budget Law to relax rules on local government bond sales

    Posted Sep 01st 2014, 05:14am by Jeanny Yu, BLOOM

    ... Jeanny Yu and Bloomberg in Shanghai Rules eased on local government bond sales The mainland's top legislature passed an amendment to the Budget Law yesterday, paving the way for more ... budget process. The key tasks are expected to be completed by 2016. Industrial Bank senior economist Lu Zhengwei said local government financing vehicles used to be the major tool for regional ...

    http://www.scmp.com/news/china/article/1582512/china-changes-budget-law-relax-rules-local-government-bond-sales
  7. News - Asia - JAPAN

    Record HK$413 billion defence budget sought by Japanese government

    Posted Aug 29th 2014, 06:51pm by KRISTINE KWOK

    ... Kristine Kwok kristine.kwok@scmp.com Japanese government requests HK$413 billion in defence spending for shopping list that includes patrol planes and hi-tech submarine Abe asks for record military budget Japan's government has requested a record defence budget and is also seeking a big increase in spending on diplomacy to counter the growing influence of China. The defence ...

    http://www.scmp.com/news/asia/article/1581800/japan-defence-ministry-asks-record-budget-amid-china-naval-fears
  8. News - Hong Kong - EDUCATION

    Short budget puts early education plan at risk, lawmaker says

    Posted Oct 22nd 2014, 04:06am by SHIRLEY ZHAO

    ... Shirley Zhao shirley.zhao@scmp.com Lawmaker arguing for more help for parents with burden of kindergarten fees doubts government is willing to increase spending HK$5b free preschool bill may be too high The government's reluctance to increase the budget for kindergarten education is one of the most worrying problems facing a plan to introduce free preschool education ...

    http://www.scmp.com/news/hong-kong/article/1621608/short-budget-puts-early-education-plan-risk-lawmaker-says
  9. News - China - POLITICS

    Local governments' issuing of bonds on agenda for party's fourth plenum

    Posted Oct 19th 2014, 06:09am by Victoria Ruan

    ... Victoria Ruan victoria.ruan@scmp.com Party leaders expected to draw up guidelines on fiscal reforms including the issuance of bonds Plenum to discuss local government debt and budgets One ... effect on January 1, local governments will be allowed to issue bonds according to strict quotas. Any debt arising from bond sales must be reflected in local budgets and approved by the local ...

    http://www.scmp.com/news/china/article/1619584/local-governments-issuing-bonds-agenda-partys-fourth-plenum
  10. Business - Banking & Finance - REGULATION

    China tightens rules for bond sales by local governments

    Posted Oct 17th 2014, 05:07am by Bloomberg, Daniel Ren

    ... the National People's Congress passed amendments to the budget law that lay the legal framework for allowing local governments to raise funds by directly selling notes. Local government debt rose ... Bloomberg and Daniel Ren in Shanghai ren.wei@scmp.com Beijing tightens rules for local bond sales The mainland has issued stricter rules for approval of bond sales by local government ...

    http://www.scmp.com/business/banking-finance/article/1617912/china-tightens-rules-bond-sales-local-governments

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