Arab Today, arab today moody\s china makes progress in local goverment bond market
Last Updated : GMT 16:50:38
Arab Today, arab today
Arab Today, arab today

Moody\'s: China makes progress in local goverment bond market

Arab Today, arab today

Arab Today, arab today Moody\'s: China makes progress in local goverment bond market

Beijing - XINHUA

Moody\'s said Wednesday that China granting two more provinces greater autonomy in bond issuances marked an important step forward in the country\'s management of local government debt. The Ministry of Finance extended its pilot program for local government bond markets to Jiangsu and Shandong provinces on July 4, increasing the number of participants to six. The six provinces and municipalities now have more freedom to market their own bonds as well as issue them in their own name -- practices other local governments may not carry out. Under current law, local governments can only borrow in the form of financing vehicles, but these shell vehicles can only obtain loans by offering high yields, as they often have no assets or stable profits. \"The momentum is building towards China\'s central government granting local governments the ability to borrow directly, which could ultimately lead to greater transparency and more refined fiscal policies for these entities,\" Moody\'s said in an announcement. The rating agency said it believes a direct form of borrowing would enhance the central government\'s ability to monitor and regulate the debts of local governments. Local government debt surged during the investment and construction binge that came amid a stimulus that was launched to buffer China against the global financial crisis in 2008. As a huge proportion of debt-financed projects have not generated any cash flow since then, local government debt, which China\'s National Audit Office estimates at around 10 trillion yuan (1.63 trillion U.S. dollars), poses a threat to China\'s slowing economy. Moody\'s said direct borrowing would also enhance local governments\' accountability for their own investments and discourage them from engaging in irregular financing activities.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today moody\s china makes progress in local goverment bond market Arab Today, arab today moody\s china makes progress in local goverment bond market

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today moody\s china makes progress in local goverment bond market Arab Today, arab today moody\s china makes progress in local goverment bond market

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel police detain 15 over campaign

GMT 14:19 2017 Monday ,23 October

Israel police detain 15 over campaign
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday