China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (4495)	3/5/2005 11:02:22 PM
From: RealMuLan	Read Replies (1) of 6370

China unveils 2005 fiscal policy: [World News]: BEIJING, March 6 : Chinese premier Wen Jiabao says China will shift to a tighter fiscal policy this year to cut its budget deficit and reduce long term development bonds. Speaking Saturday during the first day of a 10-day meeting of the National People's Congress, Wen said the deficit in the central budget for 2005 will be nearly $36.6 billion (300 billion Yuan), about $2.4 billion less than during 204. The Chinese government plans to issue $975 million dollars in long term treasury bonds this year, a decline of $3.65 billion compared with bonds issued during 2004, the premier said. Allocation from the 2005 central budget for regular development projects will increase by $121 million dollars.Wen said long term treasury bonds will help bolster China's agricultural sector, social development and environmental protection. The bonds will also be used to revitalize the country's old socialist rust belt in the northeast, developing its western region and accelerating development in poverty stricken areas. - -- Copyright 2005 by United Press International. news.newkerala.com

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