Bloomberg News

China to Provide Local Governments ‘Institutionalized’ Financing

October 28, 2011

Oct. 28 (Bloomberg) -- China will reform fiscal policies so that local governments have a more “institutionalized way” of obtaining funds and of borrowing, Vice Finance Minister Zhu Guangyao said at a conference in Beijing today.

The nation will also push more tax policies that promote domestic consumption, he said.

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