State governments use debt to finance education, infrastructure and to cover budget gaps, among other things. State and local government debt can fluctuate due to spending habits or changes in income from taxes and other sources, such as during recessions. In the 1940s and 1950s, state and lo...
China's fiscal revenue will decline this year as part of the impact of the coronavirus epidemic, Liu Kun, China's minister of finance, said Friday following the release of the annual government work report. It is expected that local fiscal revenue will decrease by 800 t...
We control for the timing of local government fiscal years and weight recession impacts accordingly. We also introduce a moving average (MA) of this weight as a substitute for traditional lags, interacting constructed weights with: (1) own source revenues and (2) other outside sources to ...
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Government loan In essence, it is deferred fiscal expenditure, most of which has been used in infrastructure projects of last year's $4 trillion stimulus package. According to the instructions of the central economic work conference, the debt of local governments will be strictly controlled next ...
HANZHONG, China, Feb. 21, 2013 /PRNewswire-FirstCall/ -- China HGS to Receive Land Use Right or Cash Compensation Awarded By Local Government
-year increase of 9.1 percent, of which 476.5 billion yuan was for the Central Government, the Shenzhen Economic Daily quoted the city’s financial authorities as saying yesterday. The rest went to local fiscal revenue, w...
also feasibly stabilize in the second half of this year. Accordingly, we assume the government will ease on stimulus measures, and tilt very gradually back in the direction of fiscal caution (see "China's Earlier Policy Shift Advances Its Recovery," published Jan. 18, 202...
The guidance added that the local government debt quota mechanism should be improved, and the debt quota should match the revenues and project income. The latest reform comes against the backdrop of the pandemic and the increasingly fluctuating external economic environment, in addition to mounting ...
The country's top legislative body has decided that the upper limit for local government debt this year should be 20.99 trillion yuan. China issued local government bonds worth 301.8 billion yuan in April and 521.3 billion yuan in the first four months of this year, all for debt swaps and ...