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万张门票免费邀您游丰台

2018-12-15 22:31 来源:中新网江苏

  万张门票免费邀您游丰台

  摩尔中投止血,但卡佩拉再次灌篮,还连续封盖了米勒和戴维斯。三星S9对于高光的抑制能力更强,可以看到iPhoneX已经一片白了。

同时,抓紧制定中央与地方收入划分改革方案。3月8日,王学典教授接受了中国孔子网的采访,就如何解决老百姓精神需求无处可依的现实情况与记者进行了交流。

  美国对华出口的其他主要商品包括大豆、电脑芯片、汽车和工业机械。政知圈(微信ID:wepolitics)注意到,不少官员将履新后的首秀放在了钓鱼台国宾馆。

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  万张门票免费邀您游丰台

 
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Economy

万张门票免费邀您游丰台

1
2018-12-15 09:10Xinhua Editor: Gu Liping ECNS App Download
22日,黄奕诉黄毅清侵犯名誉权一案二审开庭审理。

China's central government has flashed red on irregular behavior in public-private-partnership (PPP) projects and local government investment funds.

"Local governments are encouraged to form public-private-partnerships with private companies, but local governments and private companies must cooperate on a benefit and risk-sharing footing," the Ministry of Finance (MOF) said Thursday in a statement.

Local governments can set up investment funds alone or jointly with private companies, but such funds must operate on a legal and market-oriented basis, it stressed.

The statement was released on the heels of a joint notice issued Wednesday by several governmental agencies including the MOF to ask provincial authorities to examine their financing practices as soon as possible and to rectify all irregularities by the end of July.

"Unless agreed by the central government, local governments and their subsidiary agencies are forbidden to promise to buy back private companies' investments, and may not undertake investment losses of private capital in any form," noted the statement.

Local governments are not allowed to promise a minimum return on investment to private companies in any form, and they are forbidden to undertake all the risks in such projects, it added.

Local governments have been looking to government-supported investment funds and PPP, a collaborative investment model between government and private companies, as ways to fund infrastructure projects as concern rises over local government debt and the central government tightens its grip on local financing platforms that were previously widely used.

By the end of last year, combined debt of central and local governments in China stood at 27.3 trillion yuan (4 trillion U.S. dollars), with a debt-to-GDP ratio of around 36.7 percent and the total outstanding local government debt climbing to 15.3 trillion yuan.

"The authorities are strengthening supervision of both capital source and capital use in PPP projects and local investment funds," said Zheng Chunrong with Shanghai University of Finance and Economics.

"PPP projects picked up momentum in 2016, but problems including the uneven sharing of risk among participants are emerging," said Li Qilin, a senior analyst with Lianxun Securities.

Last year, the number of signed PPP projects and total investment more than quadrupled from 2015, with private enterprises participating in more regions and sectors than ever before.

PPPs will become the main financing model for Chinese local governments in infrastructure investment up to 2020, with state-owned enterprises (SOEs) to play the leading role, global ratings agency Fitch predicted in a recent report.

The PPP model is in its infancy in China and SOEs have emerged as the main partners of local governments, rather than private investors, Fitch cautioned.

Financial regulators are increasing financial risk control and de-leveraging, as solid GDP growth in the first quarter provided more room for such adjustments, conducive to long-term growth.

"The document has further standardized local government debt management. They are not allowed to increase debt in the name of PPP projects," said Li with Lianxun Securities.

Li predicted that private companies will be more prudent in cooperation with local governments, and this will help improve quality of joint projects.

  

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