国产精品99一区二区三_免费中文日韩_国产在线精品一区二区_日本成人手机在线

China's local gov'ts debt balance within targeted ceiling in 2017

Source: Xinhua| 2018-01-17 21:03:48|Editor: Mengjie
Video PlayerClose

BEIJING, Jan. 17 (Xinhua) -- The balance of local government debt stood at 16.5 trillion yuan (2.6 trillion U.S. dollars) by the end of 2017, below the government ceiling of 18.8 trillion yuan, official data showed Wednesday.

China's local governments raised 4.4 trillion yuan through debt issues in 2017, with general bonds and special bonds reaching 2.36 trillion yuan and 2 trillion yuan respectively, according to the Ministry of Finance (MOF) showed.

In breakdown: new debt stood at 1.6 trillion yuan while that issued through the debt-for-bond swap program reached 2.8 trillion yuan.

The swap program allows local governments to exchange higher-cost loans with lower-cost bonds, saving them interest costs while also giving lenders higher liquidity on their receivables.

In December alone, local governments raised 32 billion yuan through debt issues.

Local government debt soared during an investment and construction binge following the global financial crisis in 2008. Debt-for-bond swaps are one of the mechanisms introduced to reduce that burden.

The National Audit Office said in a report earlier that local government debt is under control, but some local governments were found to have raised funds through fake public-private partnerships and illegal borrowing.

China will continue to "block the back door" for illegal debt, while "opening the front door" to allow local governments to issue debts through proper channels, the MOF said.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001369030811
主站蜘蛛池模板: 盐亭县| 江华| 巴林左旗| 海南省| 大理市| 临夏县| 三明市| 平湖市| 西乌珠穆沁旗| 江口县| 遂川县| 新乐市| 祁东县| 建昌县| 同德县| 修水县| 怀集县| 东丽区| 三明市| 彝良县| 乌拉特前旗| 麟游县| 阿图什市| 海门市| 紫金县| 贵德县| 揭东县| 汕头市| 宽城| 工布江达县| 应用必备| 桃园县| 馆陶县| 镇坪县| 灯塔市| 宁夏| 龙陵县| 林州市| 滦平县| 海南省| 疏附县|