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 / Macro

China plans bond overhaul to fund $6t urbanization

(Agencies) Updated: 2013-03-01 10:59

China plans bond overhaul to fund $6t urbanization

Zhang Qingyuan, a resident of one of the apartment buildings where the local government built homes for former miners and farmers as part of an urbanization program, shows a traditional dance which he practises during a recreational activity, Feb 28, 2013. [Photo / Agencies] 

Currently, China lacks a properly functioning municipal bond market and is only just developing high-yield bonds, both of which would be needed to attract the investment capital sought.

And Beijing's qualified foreign institutional investor (QFII) rules stop dedicated overseas bond funds participating in the market by insisting as much as half the money they plan to invest goes into equities.

Boosting consumption

In the face of slowing exports, the government wants to raise domestic consumption's share in the economy to close one of the world's widest gaps between rich and poor and quell discontent among those Chinese who feel they missed out on blistering economic growth of the past three decades.

The economy picked up in the fourth quarter as a spurt of infrastructure spending orchestrated by Beijing broke seven straight quarters of a slowdown.

Consumption's contribution to growth, however, fell in the fourth quarter for the third straight quarter.

About 13 percent of China's population still live on less than $1.25 per day, the United Nations Development Programme says. Average urban disposable income is just 21,810 yuan ($3,500) a year.

Meanwhile, China has 2.7 million millionaires in dollar terms and 251 billionaires, according to the Hurun Report, known for its annual China Rich List.

Urbanization could cure China's economic imbalances, a study by consultants at McKinsey showed last November, putting it on a path to domestic consumption-led growth within five years to replace three decades of investment and export-driven development that stoked global trade tensions.

The government hopes 60 percent of its population of almost 1.4 billion will be urban residents by 2020, from about half now, and will build homes, roads, hospitals and schools for them.

But urbanization and market reform must go hand in hand, as simply adding to housing stock risks creating "dead cities", according to Xia Bin, a former adviser to the central bank and now head of the financial research institute at the State Council's think-tank.

A senior financial diplomat in regular contact with Chinese officials concurred.

"The focus should not just be on construction. They should also focus on creating a market," the diplomat said. "If they fail to create a market, they will end up with an urban poor much worse off than the rural poor."

 

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产精品不卡一区 | 伊人色在线 | 日本成人一级片 | 超碰人人人人人人 | 少妇精品一区二区三区 | 毛片高清 | 亚欧洲精品在线视频免费观看 | 日韩性xxx| 亚洲第一视频网站 | 国产精品久久久久久久精 | 操人小视频 | 亚洲国内自拍 | 中文字幕亚洲日本 | 久操久操久操 | 欧美三级精品 | 毛片网站免费观看 | 国产伊人精品 | 一级片在线 | 欧美一区二区在线免费观看 | 特级做a爱片免费69 欧美色图自拍 | 亚洲欧美综合视频 | av在线男人天堂 | 黄色片在线免费看 | 婷婷综合在线 | 久久免费公开视频 | 亚洲国产精品二区 | 看毛片的网址 | 成人av在线一区二区 | 日本欧美国产 | 国产精品成人久久 | 精品在线免费观看 | 日韩免费在线观看视频 | 亚洲自拍色 | 国产精品高潮呻吟av | 深夜做爰性大片108式 | 成人免费一级视频 | 中文字幕成人在线观看 | 久久国产在线视频 | 国产免费av一区二区 | 97超碰人人 | 亚洲精品综合网 |