China Budget Eases Back |
| Wall Street Journal - Mar 5, 2010 |
China's government unveiled a conservative budget for 2010 that reinforces its gradual shift away from stimulus programs adopted during the crisis, even as officials said they were still committed to supporting economic growth in uncertain times.
Total government spending is budgeted to grow just 11% this year, down from the 21% increase in 2009, with slower gains in both infrastructure and social programs, China's finance ministry said in a presentation Friday to the annual meeting of the legislature. While it promised more money for many of the administration's priorities, like education and housing, new spending was constrained by dim prospects for tax revenue this year.
The reports to the National People's Congress reflect the recent disconnect between Chinese official rhetoric—which still emphasizes the need to propel the economy—and a series of actions in recent months to rein in growth to head off possible overheating.
Read Full Article from Wall Street Journal
- Posted: 2010-03-05 11:09:03
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
