综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

chinadaily.com.cn
left corner left corner
China Daily Website

China plans bond overhaul to fund $6t urbanization

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

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

 
 
...
甘泉县| 静海县| 耒阳市| 辽阳市| 青冈县| 岳普湖县| 成安县| 武隆县| 永吉县| 宝应县| 碌曲县| 鹰潭市| 綦江县| 靖宇县| 明光市| 陆川县| 曲麻莱县| 淮北市| 潢川县| 英山县| 丹江口市| 攀枝花市| 墨竹工卡县| 禹城市| 桐乡市| 定远县| 深州市| 松江区| 东阳市| 汾阳市| 商洛市| 谢通门县| 咸阳市| 保靖县| 阳城县| 通州区| 石景山区| 丽水市| 麻栗坡县| 来安县| 大余县|