Local Public Finance Management in the People's Republic of China: Challenges and Opportunities by Asian Development Bank

Author:Asian Development Bank [Bank, Asian Development]
Language: eng
Format: epub
Tags: Political Science, Public Affairs & Administration
ISBN: 9789292545673
Google: IRSPCwAAQBAJ
Publisher: Asian Development Bank
Published: 2014-07-01T17:39:01+00:00

Figure 3 Reversal of Fortunes of Local Governments in the PRC—1978–2012

Source: Yin (2013).

Table 6 shows local governments’ fiscal surpluses to serious gaps in financing needs, based upon 2011 data.9 The table shows that the fiscal gap is largest for county and township governments. These gaps in operating expenditures are largely met by central transfers, but this only fills a small fraction of local government capital spending. Local governments are instead left to their own devices to seek innovative financing for capital spending and other off-budget expenditures. Land-leasing income is a major source of such financing (Tables 7–10).

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