Sunday , July 12 2020
Home / South China Morning Post / China to bypass provinces with direct payments to cash-strapped local governments, but revenue problems remain

China to bypass provinces with direct payments to cash-strapped local governments, but revenue problems remain

Summary:
[unable to retrieve full-text content]China is planning to channel much of its stimulus funding directly to cash-strapped city and county governments to help revive the economy, a move that highlights the long-standing tax and spending problems between Beijing and local governments.Beijing will create a special central transfer mechanism to direct 2 trillion yuan (US1.2 billion) – 1 trillion yuan from the central government budget and 1 trillion yuan in special off-budget treasury bonds – to local governments to provide them…

Topics:
Amanda Lee considers the following as important:

This could be interesting, too:

Charles Hugh Smith writes The Sinking Titanic’s Great Pumps Finally Fail

Lance Roberts writes This Is Nuts…Again. Reducing Risk As Tech Goes 1999 07-11-20

James Picerno writes Book Bits | 11 July 2020

Lambert Strether writes Links 7/11/2020

[unable to retrieve full-text content]
China is planning to channel much of its stimulus funding directly to cash-strapped city and county governments to help revive the economy, a move that highlights the long-standing tax and spending problems between Beijing and local governments.Beijing will create a special central transfer mechanism to direct 2 trillion yuan (US$281.2 billion) – 1 trillion yuan from the central government budget and 1 trillion yuan in special off-budget treasury bonds – to local governments to provide them…

Leave a Reply

Your email address will not be published. Required fields are marked *