Xie Xuren

Finance minister Xie Xuren put in charge at pension fund

Xie Xuren must tackle a widening pension black hole

Finance minister Xie Xuren has moved to be head of the National Council for Social Security Fund in the government reshuffle, replacing Dai Xianglong, a senior official at the national pension fund told the South China Morning Post.

Wednesday, 20 March, 2013, 4:35am

Auditor's report details litany of financial abuse

The mainland's top audit office says 300 central government officials, including some department chiefs, abused funds totalling almost 4.4 billion yuan (HK$5.4 billion) last year.

28 Jun 2012 - 12:00am

Local governments to form funds to repay loans

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.

Finance Minister Xie Xuren said the government would also focus on improving its tax system and on lowering structural taxes as part of its fiscal policy this year.

7 Mar 2012 - 12:00am

Welfare spending to be boosted

Finance Minister Xie Xuren vowed yesterday to increase spending on social welfare while further acting to restrict officials' lavish spending on entertainment, amid continued robust growth in fiscal revenue.

26 Aug 2011 - 12:00am

A runaway debt bill that's gathering speed

A year before Liu Zhijun's sacking, China's National Audit Office issued the first of two audit reports on the yet-to-be-completed Beijing-Shanghai high-speed railway, disclosing false procurement receipts, illegal subcontracting, budget overruns and improper tendering.

15 Jun 2011 - 12:00am

Debt fears rise as railway industry posts loss

The state-owned railway industry made a rare pre-tax loss of 3.7 billion yuan (HK$4.4 billion) in the first quarter of the year amid growing concern about its health.

4 May 2011 - 12:00am

Railway debt crisis 'racing out of control'

The mainland's railway industry is facing a debt crisis explosion by 2015, an outspoken economist warns amid fierce debate over the sustainability of the country's world-beating high-speed rail programme.

'The debt crisis already exists and the central government hasn't started to handle this,' said Professor Zhao Jian of Beijing Jiaotong University.

2 Apr 2011 - 12:00am

Most-polluting vehicles, vessels may be taxed more heavily

The National People's Congress began its first review of a draft law that would reduce taxes on clean-energy-powered vehicles and vessels and increase taxes on those with higher emissions.

The review began at the opening of a session of the Standing Committee of the top legislature that takes place every two months.

26 Oct 2010 - 12:00am

Stimulus funds haven't leaked, top planner says

China's chief economic planner yesterday dismissed allegations that part of the mainland's massive stimulus funds had been used to speculate in the country's red-hot property market. It was the central government's strongest defence yet of its management of the huge pile of public funds.

7 Mar 2010 - 12:00am

2 trillion yuan spree looms on mainland

Government departments at all levels across the mainland are expected to go on a spending spree in coming weeks in a final push to use up as much as 2 trillion yuan (HK$2.27 trillion), or about a quarter of the annual fiscal spending budget that remains unused in state coffers.

14 Dec 2009 - 12:00am

Fiscal revenue declined 6.7 per cent for first five months, Beijing says

The mainland's fiscal revenue continued to shrink in the first five months of this year, underscoring rising pressure to fund a spending spree aimed at recharging the economy.

25 Jun 2009 - 12:00am

First beauty contest heralded new freedoms

A uniform style of clothing without a hint of nonconformity was the norm for mainlanders during the country's political campaigns of the 1960s and 1970s. But the late 1970s finally saw an end to the 'any colour as long as it's blue or black' attire as the mainland's opening and reform began.

Many dramatic changes have taken place since, among them the first beauty pageant.

5 Dec 2008 - 12:00am

More stimulus measures likely

Premier Wen Jiabao yesterday sidestepped the issue of whether China would inject more into the International Monetary Fund - an appeal made by British Prime Minister Gordon Brown - but said further stimulus measures would be introduced to curb a slowdown in the mainland's economy.

8 Nov 2008 - 12:00am

Tax threshold cut proposed to tackle inflation

Legislature plans to lift burden from 70pc of income earners

The nation's top legislature yesterday began considering a proposal to raise the individual income tax threshold to 2,000 yuan a month to ease the burden of low earners.

24 Dec 2007 - 12:00am

Beijing's sights set on reduction in budget deficit

Agricultural output key to new strategy as inflation fears prevail

The mainland will cut its budget deficit next year and use fiscal leverage to support agricultural output as authorities try to stop the economy from overheating and curb inflation, Finance Minister Xie Xuren said yesterday.

20 Dec 2007 - 12:00am