China will directly transfer 2 trillion yuan in stimulus funding to city and country governments to help revive the economy. Photo: Xinhua
China to bypass provinces with direct payments to cash-strapped local governments, but revenue problems remain
- Beijing is distributing money directly into the hands of struggling local authorities, skipping provincial governments
- More than 40 per cent of spending by regional and local governments this year will rely on central government transfers, highlighting the shaky state of their revenues
China will directly transfer 2 trillion yuan in stimulus funding to city and country governments to help revive the economy. Photo: Xinhua
