ing gap between increased spending and the slower expansion of income, some local governments, especially at the co
unty level, are facing fiscal pressure. But the central government will transfer more funds to local go 上海龙凤1314女神会所
vernments to ensure stable fiscal spending and further implement tax and fee cuts, the ministry said.
上海龙凤1314By the end of July, local governments had issued 2.55 trillion yuan in new b
onds for the year, accounting for 82.8 percent of the annual quota of 3.08 trillion yuan.
A quota of 2.15 trillion yuan for local governments’ special bonds－mainly meant to s 上海龙凤1314
upport infrastructure projects－had been 65 percent used up by the end of July, the Ministry of Finance said.
Market speculation is that there will be additional bond quota space to bolster fiscal spending in coming months. But a seni 上海龙凤1314女神会所
or official at the Financial Department of the Ministry of Finance said in an interview this week: “It is unlik
上海龙凤1314ely that the government will raise the quota for local government bonds, or for the special bonds.”
Local government special bonds are seen as an important measur
e to support infrastructure investment, and they also are not included in local 上海龙凤1314
budgeted debt. The annual quota was set by the Government Work Report in March.
About 1.55 trillion yuan in local government special bonds had been iss 上海龙凤1314女神会所
ued in the first half, the Ministry of Finance said. The remaining 600 billion yuan
issuance must be finished by September－a State Council requirement to speed financing for key projects.
China should have an expansionary and much stronger fiscal policy in order to inc 上海龙凤1314
rease public spending and prevent a further slowing of economic growth, said Yu Yo
ngding, a senior economist at the Chinese Academy of Social Sciences. Yu spoke at a recent forum.
The fiscal deficit ratio, which may surpass the government target of 2.8 per 上海龙凤1314女神会所
cent of GDP this year, should be compensated by issuing more central government
bonds, said Yu, who also suggested the central bank lower interest rates for the bond issuance.
nitiative is a challenge, but achievable,” she said, adding that at the heart of this challenge lies great potenti
al for innovation and creativity, such as new disaster risk prediction and analysis, and disaster-resilient infrastructures.
Huang Runqiu, vice-minister of the Ministry of Ecology and Environment, said dis
aster risk reduction of natural hazards along the initiative is crucial for its success and sustainability.
Regions at the heart of the initiative, such as the Tianshan-Pamir Platea
u, the Himalayas, eastern parts of the Qinghai-Tibet Plateau and South Asia, are facing serio
us disaster threats due to tectonic movements, fragile ecosystems and extreme weather, he said.
Henrik Slotte, a senior disaster management expert from the UN Environm
ent Program, said poorly managed infrastructure projects can damage the ecosystem.
whose annual net income was less than 200 yuan ($30) were defined as living below the p
overty line in China in 1985. The line was raised to less than 2,300 yuan by 2011.
Second, how are policies designed to help the poorest people? Chinese policies aim to give the poor a roof over their heads, guarantee
food, clothing and basic medical services, and provide their children with nine years of compulsory education.
Funds and resources have been made available for agricultural subsidies and cheap loans to rural far
mers. Funds also went into rural revitalization, to integrate regional development and build infrast
ructure connecting villages to markets so that farmers could sell their products more easily. Villagers have been enco
uraged to be innovative, with incentives and loans for them to become self-employed and to set up micro-businesses.
Moreover, teams of officials have been traveling to faraway and isolated rural areas to help individual
s and families with individualized plans that target specific problems, such as whether there is ill
ness or disability in the household. In other words, China has not taken a “one-size-fits-all” approach for the tough cases.