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The size of China's financial deficit will be the first breakthrough trillion yuan
The Chinese government announced that this year continue to implement the proactive fiscal policy, it intends to bring the deficit into record highs - 10500 billion yuan. Among them, including the continued generation of local debt issued 200 billion yuan.
The deficit in the plan, if endorsed by the National People's Congress approved China's deficit will be the first break one trillion yuan, more than 2009 points of concern need to be enlarged 100 billion yuan. But, this increase has been far less than in 2009.
Last year, worried about the prospects for economic growth in China, the size of the central budget deficit soared 570 billion yuan, reaching 750 billion yuan. In addition, the central government allows local governments to issue 200 billion yuan of bonds.
More than 9000 billion yuan central government public investment, along with 9.5 trillion yuan of new bank credit and an increase of 15.5% of consumption, and quickly make up for the "external demand gap" Ultimately, China's 2009 GDP grew by 8.7%.
Despite the worldwide economic recovery in the first, but the Chinese Government believes that the economic recovery are not yet solid, it is necessary to continue the proactive fiscal policy, including implementation, including the economic stimulus.
5, Chinese Premier Wen Jiabao stressed that economic recovery will not be able to better trend, equivalent to a fundamental improvement in the economy; to ensure policy continuity and stability. This year deal with the international financial crisis continue to implement the package, the completion of construction projects to strengthen the weak links, promote reform and improve people's livelihood and maintaining stability and so the need for additional investment.
He also said that the need to effectively guard against and eliminate the potential financial risk.
Chinese Ministry of Finance expects the difference between revenue and expenditure account for this year's national GDP, 2.8%, with basically the same as the previous year. If the Ministry of Finance is expected to be able to achieve this, China's deficit rate will be controlled at 3%, that is, within the international security lines.
The deficit in the plan, if endorsed by the National People's Congress approved China's deficit will be the first break one trillion yuan, more than 2009 points of concern need to be enlarged 100 billion yuan. But, this increase has been far less than in 2009.
Last year, worried about the prospects for economic growth in China, the size of the central budget deficit soared 570 billion yuan, reaching 750 billion yuan. In addition, the central government allows local governments to issue 200 billion yuan of bonds.
More than 9000 billion yuan central government public investment, along with 9.5 trillion yuan of new bank credit and an increase of 15.5% of consumption, and quickly make up for the "external demand gap" Ultimately, China's 2009 GDP grew by 8.7%.
Despite the worldwide economic recovery in the first, but the Chinese Government believes that the economic recovery are not yet solid, it is necessary to continue the proactive fiscal policy, including implementation, including the economic stimulus.
5, Chinese Premier Wen Jiabao stressed that economic recovery will not be able to better trend, equivalent to a fundamental improvement in the economy; to ensure policy continuity and stability. This year deal with the international financial crisis continue to implement the package, the completion of construction projects to strengthen the weak links, promote reform and improve people's livelihood and maintaining stability and so the need for additional investment.
He also said that the need to effectively guard against and eliminate the potential financial risk.
Chinese Ministry of Finance expects the difference between revenue and expenditure account for this year's national GDP, 2.8%, with basically the same as the previous year. If the Ministry of Finance is expected to be able to achieve this, China's deficit rate will be controlled at 3%, that is, within the international security lines.
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