Public debts as well as the fiscal risks associated with them have been a global concern for our time. This paper examines fiscal risks in China, particularly fiscal risks at the local (sub-national) government level. Under the current system of Chinese intergovernmental relations, local government...
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Liu Shangxi, head of the Chinese Academy of Fiscal Sciences, said that it is important to tighten regulations on "hidden" local government debt, which will push the local government officials to take responsibility for their financing activities and make investment more efficient. Finance Minister L...
Liu's article was published in Qiushi Journal, a flagship magazine of the Communist Party of China Central Committee. He said more efforts are needed to implement the proactive fiscal policy and boost efficiency this year. Preventing and defusing local governments' hidden debt risks is key to co...
This feature alone is a “wild card” that looms over most specific risks of malware. It’s like debating who has the most keys to break into a building, when you hold the master key in your hand. Put another way, if...
The plan, which was submitted by the State Council, China’s cabinet, and approved by the Standing Committee of the National People’s Congress on Friday, is in line with the higher end of economists' forecasts as China seeks to manage financial risks and support economic growth. This marks...