日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Economy

Idle govt funds reportedly seized for use

By Zheng Yangpeng (China Daily) Updated: 2015-09-16 10:19

Central authorities have seized up to 1 trillion yuan ($157 billion) from local governments that failed to spend their budget allocations, Reuters reported on Monday, citing unidentified sources.

The news came as China's fiscal income slumped again to single-digit growth in August after two consecutive months of double-digit growth.

The country's fiscal revenue in August rose by 6.2 percent year-on-year, according to a Finance Ministry statement on Tuesday. Growth in July was 12.5 percent, and in June it was 13.9 percent.

While the ministry declined to confirm the Reuters report, there were signs that Beijing is increasingly concerned with the scenario that, while the government must bolster fiscal spending to counter a cooling economy, considerable funds sit idle in the bank.

In June, the National Audit Office unveiled in its half-year audit report that a total of 1.19 trillion yuan was unspent by the 18 provincial governments that it audited by the end of last year, and another 149.5 billion yuan was idle in the central ministries it had audited.

It was not clear whether the 1.19 trillion yuan reported by the audit office was what had been confiscated, according to the Reuters report, which said the seized money was to be used for other investments, as growth for the year looks increasingly likely to fall below 7 percent.

One trillion yuan is equivalent to about 6 percent of China's projected total government spending for this year.

In a meeting in July, Premier Li Keqiang said various levels of government have repossessed more than 250 billion yuan in idle funds and spent the money in areas that urgently need funding.

The problem of "dormant" government funds is a long-standing issue that exposes vast inefficiency in the government budget system.

Treasury savings by various levels of government hit 4.44 trillion yuan by the end of August, and savings of other government-affiliated institutions (such as universities, hospitals and research institutes) exceeded 20 trillion yuan by the end of June, according to People's Bank of China. These deposits have a very limited investment scope that usually reaps a return of less than 3 percent.

Zhang Bin, a researcher with the National Academy of Economic Strategy of the Chinese Academy of Social Sciences, said a portion of the unspent money is "special-purpose governmental funds" that could not be spent in any area except that for which they were dedicated, even if other areas badly need money.

Another portion of the unspent money is earmarked for specific projects, but due to various factors, the projects haven't started so the money is waiting. Yet another portion is the result of a lagging pace of budget implementation.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲成人观看 | 欧美猛男孕妇 | 老牛嫩草二区三区观影体验 | 日韩欧美操 | 久久91久久 | 日韩另类在线 | 国语对白永久免费 | 黄网视频在线观看 | 欧美专区第一页 | 中国性戏观 | 国产999久久久 | 黄大色黄大片女爽一次 | 激情网站在线 | 欧美一级黄色网 | 狠狠操中文字幕 | 婷婷激情视频 | 午夜黄色小视频 | 黄色成年人网站 | 桃色一区| 成年人免费看视频 | 亚洲一区二区在线播放 | 欧美日韩一级二级 | 国产一区二区三区在线观看视频 | 日韩av一 | 视频1区 | 狠狠干美女 | www天堂在线| 最新国产 | 久久精品无码一区二区三区 | 看片在线| 成人一区三区 | 一级黄色在线 | 日本少妇做爰全过程毛片 | 在线观看视频中文字幕 | 国产在线中文字幕 | 国产精品久久精品 | 日本综合久久 | 欧美亚洲二区 | 精品国产一区二区三区久久久蜜臀 | 免费观看黄色大片 | 国产中文字幕一区二区三区 |