Beijing has ordered heavily indebted local governments to set up special funds to help repay loans, in a bid to avoid a Chinese version of the sovereign debt crisis that has sunk several European economies.Wednesday, 7 March, 2012, 12:00am
The Jiu San Society, one of the mainland's eight non-communist parties, will submit a proposal at this year's annual meeting of the Chinese People's Political Consultative Conference calling for curbs on government spending on banquets, cars and travel.3 Mar 2012 - 12:00am
As the pungent aroma of tear gas swirled around the Greek parliament, the government finally managed to push through a string of austerity measures demanded by its creditors. No one questions the amount of serious pain these measures will inflict, but will there really be any gain?20 Feb 2012 - 12:00am
More low-income families may benefit from government transport subsidies thanks to changes to the eligibility limits for applicants.
From next month, the income and asset limits of families will be increased by up to 15 per cent and up to 60 per cent respectively to make more households eligible.17 Feb 2012 - 12:00am
European investors - and politicians - heaved a collective sigh of relief this week after the Chinese premier and central bank governor both pledged to support the continent in its debt crisis.
On Tuesday, Premier Wen Jiabao declared that 'China is ready to get more deeply involved in participating in solving the European debt issue'.16 Feb 2012 - 12:00am
Recent economic numbers from Japan have provided some scary background about why Japanese Prime Minister Yoshihiko Noda is determined to follow the urgings of the International Monetary Fund and raise the country's consumption tax from 5 per cent.14 Feb 2012 - 12:00am
In his last budget speech as financial secretary in the current administration, John Tsang Chun-wah reflected on the necessity for fiscal discipline. He attributed the sovereign debt crises in some advanced economies to their lax fiscal discipline, and was determined to ensure the structural integrity of public finances in Hong Kong and keep adequate fiscal reserves for future challenges.14 Feb 2012 - 12:00am
More of the same' does not begin to describe the ultraconservative nature of the financial secretary's budget for 2012-13, even allowing for its 'caretaker' nature as the last budget of the current administration.12 Feb 2012 - 12:00am
It is intriguing to think that what our legislators will do over the next few weeks is derived directly from an event that took place nearly 800 years ago on the banks of the River Thames in England.6 Feb 2012 - 12:00am