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  • July 12, 2014
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  1. 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 ...

  2. 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 ...

  3. 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 ...

  4. Business - Economy

    Beijing urges local governments to quicken budget spending

    Posted May 29th 2014, 01:05am by BLOOM

    ... urged local governments to quicken the pace of budgetary spending to guarantee construction of key projects and boost the slowing economy. The finance ministry also said local fiscal agencies ... said the central government would consider cutting next year's budget quota for those local departments which failed to spend the amount allocated for this year. "We noticed problems ...

  5. Business - Economy - DEBT

    China will let local governments repay bonds as financing trial expands

    Posted May 22nd 2014, 01:19am by BLOOM

    ... Bloomberg in Shanghai Trial shift allows local governments to repay bonds China will let some local governments repay their bonds themselves this year in an expansion of a municipal debt ... that will allow local governments to sell municipal bonds directly to investors, according to an urbanisation plan for 2014-2020 released in March. Reducing provincial administrations' reliance ...

  6. Business - China Business - DEBT

    China signals it will allow local governments to directly sell bonds

    Posted May 21st 2014, 01:11am by Reuters

    ... Reuters in Beijing Local governments near to direct sales of bonds The mainland is getting closer to allowing local governments to directly sell bonds for the first time, the National ... system for local governments that would let the sale of municipal bonds be a major source of funding and Beijing would set limits on the amount of debt that could be raised by local governments ...

  7. News - Hong Kong - TRANSPORT

    MTR jams caused by local workers, not mainland tourists, says government adviser

    Posted May 20th 2014, 04:04am by Ada Lee

    ... number of mainland visitors, a government adviser says. "People complain that mainland travellers are making our traffic very busy. But the major reason is that the number of employees [in ... mainland visitors for the city's crowded trains were reaching the "wrong conclusion". Hong Kong's unemployment rate stands at only 3.1 per cent. Government documents showed ...

  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. Business - China Business

    China taps private capital to curb debt build-up at local governments

    Posted Apr 29th 2014, 01:15am by BLOOM

    ... a blowout in regional debt, supporting a rally in local-government financing vehicle bonds. The mainland would open up bidding for 80 projects in industries now dominated by the state, a government ... said Li Ning, an analyst at Haitong Securities. "With the government rolling out measures to support local financing, investors are treating LGFV bonds as safe-haven assets." Lower ...

  10. News - China - DEBT

    Beijing's decision to allow local government bond issues a welcome move, say analysts

    Posted Apr 24th 2014, 04:36pm by Cary Huang

    ... Cary Huang cary.huang@scmp.com New law, if passed, will promote more transparent fundraising and help ease problem of rapidly rising local government debt The central government’s decision to allow provincial governments to issue bonds will result in increased oversight of province-level government finances, analysts say, and help ease the problem of mounting local government debt. ...




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