Tag: debthit
Posted in WP-12
China’s third plenum holds out hope for debt-hit local governments with funding reform
The leadership agreed to grant local governments more “autonomous fiscal capacity”, allowing them to increase their tax sources and “appropriately” expand their management authority relating to taxation, the document revealed. The policy measures from the four-day, closed-door plenary session – aimed at laying out China’s economic road map for the medium term – come as …