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  • October 26, 2014
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  1. News - China - POLITICS

    China scraps 130,000 ‘leading groups’ in effort to streamline local government

    Posted Oct 23rd 2014, 02:36pm by Chris Luo

    ... the nation, state media reported on Thursday. Formally called “leading small groups”, these structures are set up independently by each local party or government body and they primarily serve the same ... to bypass formal government institutions. The “leading groups” are often kept opaque from the public’s perspective and the local officials’ inclination to rely on them to administrate has led ...

  2. Business - China Business - DEBT

    Municipal bonds may be used to clear up debts by local governments

    Posted Oct 22nd 2014, 05:28am by Reuters

    ... by the Ministry of Finance on local government debt proposes letting them issue bonds to replace borrowings taken through opaque financing vehicles, according to people who have seen the draft. ... government debt, much of it raised by local government financing vehicles (LGFVs) to finance infrastructure and real estate projects. This lending was originally encouraged by Beijing to stimulate ...

  3. 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 topic high on the agenda at this week's Communist Party plenum is likely to be how local governments can raise and spend funds more efficiently. Although the plenum will focus mainly ...

  4. Business - Banking & Finance - REGULATION

    China tightens rules for bond sales by local governments

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

    ... 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 ... 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 ...

  5. News - China - HEALTH

    Mainland orders local governments to review Ebola preparations

    Posted Oct 17th 2014, 04:12am by STAFF AND WIRE

    ... Staff Reporters and Agencies Designated hospitals to handle cases, local authorities to keep and share databases Mainland orders Ebola review The mainland's health commission has ordered local governments to review whether public health facilities are prepared to handle Ebola cases. The National Health and Family Planning Commission asked local authorities to keep ...

  6. Business - Banking & Finance

    Beijing to set quota on local government debt

    Posted Oct 03rd 2014, 04:22am by Bloomberg

    ... Bloomberg in Shanghai Local governments banned from seeking extra funds through financing vehicles Beijing to set debt quota to limit risk Beijing will cap the amount of debt local ... to compare it to debt surges that tipped Asian nations into crisis in the late 1990s. Local government debt swelled to 17.9 trillion yuan (HK$22.6 trillion) in June last year, according ...

  7. Sport - Hong Kong - TRIATHLON

    Former Hong Kong triathlon hero Andrew Wright slams local governing body

    Posted Oct 01st 2014, 10:06pm by Alvin Sallay

    ... 'Why I regret saving our sport' Andrew Wright, who saved triathlon's elite status at the Hong Kong Sports Institute four years ago, has slammed the sport's local administrators ... a week on Hong Kong side, and they have no time to travel on the MTR with bikes. But they have still been kicked out, even though they clean up all the local races." Kellie Alexander, ...

  8. 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 ...

  9. 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 ...

  10. 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 ...




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