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  • September 20, 2014
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  1. 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 local governments to sell bonds directly to raise funds for public projects. Under State Councilapproved quotas, provincial-level authorities will be able to sell debt to invest in such projects ...

  2. Business - Economy - DEBT

    Local governments can replace costly debt, finance minister says

    Posted Aug 29th 2014, 01:14am by Reuters

    ... Reuters in Beijing Beijing urges swap into cheaper bonds Local governments can swap some of their high-interest debt for cheaper municipal bonds, Finance Minister Lou Jiwei said, a move ... This is the first time a senior Beijing official has said publicly that local governments can swap their debts to reduce repayment costs. A national audit of public finances last year showed regional ...

  3. Property - Hong Kong & China - AUDITING

    Mainland authorities to conduct audit of local government land sales

    Posted Aug 18th 2014, 10:58am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com The mainland kicked off a special audit of local governments’ land auctions on Monday in a move to fight corruption and standardise the land auction process, ... whether officials had changed development restrictions, such as plot ratios, to make land more attractive to developers. The newspaper said the audit would also focus on local government’s use ...

  4. News - China - GOVERNANCE

    100 days without a leader: Graft probes leave many local governments bereft of party chiefs

    Posted Aug 08th 2014, 01:31pm by Keira Lu Huang

    ... Keira Lu Huang keira.huang@scmp.com Guangzhou, Kunming, Sanya and Yuncheng are currently functioning without top leaders Several local governments in China have been left without top ... Wang Maoshe, who was party chief of Yuncheng in Shanxi province, was hauled away by investigators and his name was erased from the city government’s website, thepaper.cn said. The CCDI has ...

  5. Business - Economy

    China's local governments boost investment spending

    Posted Jul 16th 2014, 01:15am by BLOOM

    ... Bloomberg in Beijing Local governments increase investment spending to meet growth targets as central authorities limit financing for economy Mainland regions boost stimulus Regional ... the investment risks exacerbating financial dangers from local government debt that swelled to about US$3 trillion in June last year. While Premier Li Keqiang is trying to expedite spending from existing ...

  6. Business - Economy

    Chinese local governments urged to boost spending

    Posted Jun 26th 2014, 01:08am by Victoria Ruan

    ... Victoria Ruan in Beijing victoria.ruan@scmp.com Central government is pushing the mainland's provinces to release more funds for investment Local spending on rise amid anti-graft ... with analysts saying fiscal policy is likely to serve as a major catalyst. While local governments' spending on catering and other forms of entertainment may stay tight, they are being pushed ...

  7. News - China - ECONOMY

    Local government debt show signs of improving

    Posted Jun 24th 2014, 07:48pm by Keith Zhai

    ... Keith Zhai keith.zhai@scmp.com But extravagance and corruption persist at some departments and state firms, audit chief says Local government debt show signs of improving China's growth in local government debt has been slowing since the middle of last year, the National Audit Office said, but cautioned that some provinces were deferring the problem by repaying old debts ...

  8. Business - Banking & Finance - ECONOMY

    Local government financing needs revamp to avoid risk of excessive debt, analysts say

    Posted Jan 24th 2014, 10:21am by Victoria Ruan

    ... Victoria Ruan in Beijing victoria.ruan@scmp.com Central government urged to shoulder more of the loan burden at the local level as default risk looms amid a spending spree on infrastructure Debt issue spurs need for fiscal reform The fast growth in the mainland's local government debt has highlighted the urgency of a revamp of the country's seriously imbalanced ...

  9. Lifestyle - Arts & Culture

    Revamped museum will shift focus to local works

    Posted Sep 16th 2014, 01:04pm by Enid Tsui

    ... Enid Tsui life@scmp.com Watch this space A last-minute change to the Hong Kong Museum of Art's renovation plans may turn out to be one U-turn that will win the government much praise. ... the museum still feels like a throwback to a time when art was a mere afterthought for the government. The number of visitors last year was just 530,000, and M+, the future contemporary/visual art ...

  10. News - China - EMPLOYMENT

    Foshan is first Chinese local government to open up to foreign talent

    Posted Jun 08th 2014, 05:26am by Mimi Lau

    ... Mimi Lau in Guangzhou mimi.lau@scmp.com In a mainland first, a local government bureau has turned to overseas talent in a move hailed by Beijing as an example for others to follow Province ... governments to follow. There is no secret formula here. If we can do it, so can other departments Zhou Zhitong "It's the very first time a Sino-foreign team has existed in a local government ...




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