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Strategies & Market Trends : China - The Next Great Stock Market ? -- Ignore unavailable to you. Want to Upgrade?

To: ~digs who wrote (121)	3/5/2003 2:59:44 AM
From: ~digs	Read Replies (1) \| Respond to of 140

China to set record budget deficit - NPC sources Wednesday March 5, 2:55 am ET BEIJING, March 5 (Reuters) - China's finance minister is forecasting a record budget deficit of 319.8 billion yuan ($38.6 billion) in 2003, up 10 billion yuan or 3.2 percent from the 2002 shortfall, parliament sources said on Wednesday. In a speech scheduled to be delivered to the National People's Congress, or parliament, on Thursday, Xiang Huaicheng will say expenditures would be 2.37 trillion yuan and revenues 2.05 trillion yuan, said two sources who have seen the report. Xiang would also outline plans to issue 615.4 billion yuan in treasury bonds this year, they said. That would be 22 billion yuan, or 3.8 percent, more than the 592.9 billion yuan issue planned for 2002. The bonds help cover the deficit and repay old debt and are separate from special economic stimulus bonds, which outgoing Premier Zhu Rongji said on Wednesday would be trimmed seven percent to 140 billion yuan in 2003. ($1=8.28 yuan) biz.yahoo.com