Tuesday, April 28, 2015

ecns [expanded by feedex.net]: China urges local gov'ts to deepen fiscal reforms amid slowing revenue

ecns [expanded by feedex.net]

ecns

China urges local gov'ts to deepen fiscal reforms amid slowing revenue
http://www.ecns.cn/business/2015/04-29/163525.shtml
Apr 29th 2015, 00:29





The Ministry of Finance on Tuesday urged local authorities to advance fiscal and tax reforms as fiscal revenue had slowed, which would negatively impact on achieving the 2015 development target.


The ministry asked local authorities to implement the roadmap and timetable for deepening fiscal reforms, further cut administrative approvals and spend unused fiscal funds.


They were also told to speed up local government debt issuance, innovate management of fiscal funds and accelerate expenditure.


The ministry highlighted the yawning gap between fiscal revenue and expenditure, urging local governments to strengthen tax collection.


Fiscal revenue rose 5.8 percent year on year to reach 1.07 trillion yuan (174 billion U.S. dollars) in March, while national fiscal spending expanded 4.4 percent from a year ago to 1.4 trillion yuan.


The economy grew 7 percent year on year in the first quarter, the lowest quarterly growth rate since 2009.


Premier Li Keqiang, speaking at the opening of the annual parliamentary session, stressed that proactive fiscal policy and prudent monetary policy in 2015 would deliver the economic target of around 7-percent growth.


The government plans to raise China's budget deficit to 2.3 percent of its gross domestic product (GDP) for 2015, up from last year's target of 2.1 percent.




MOC urges local gov'ts to develop e-commerce




Debt-swap plan of local gov'ts set to be expanded




Mayors called in as environmental supervision shifts to local gov'ts




China's local gov'ts urged to implement power list system




Local gov'ts pave way for new wave of small firms





Drastic streamlining for SOEs


Putin slams West for attempting to distort WWII history


'Coolest toilet' in Chongqing looks like a castle


Shanghai, Pyongyang linked with regular flights


Shanghai tops for disposable income spend


25 dead, 383 injured in Tibet following Nepal earthquake


50,000 Vietnamese 'wives' not legally married in China


China to bring more citizens home from Nepal


Assistance reaches Chinese in Nepal






ShareX





QQ Miniblog




bSync




Sina Miniblog





Qzone


Sohu Miniblog


Xinhua Miniblog


Shou Ji


Netease MB


Kaixin001


Douban




phone fast transmit


Renren


Tianya


IFeng MB


QQ Friends


WeChat


QQ friend





More... (133)


bShare







You are receiving this email because you subscribed to this feed at https://blogtrottr.com

If you no longer wish to receive these emails, you can unsubscribe here:
https://blogtrottr.com/unsubscribe/qhG/Zc7fXt

No comments:

Post a Comment