Closer Look: New Year Not So Happy for Officials Seeking Fund-raising Options
As local government officials looked forward to the new year, some hoped Beijing would relax restrictions on their financing tools.
Instead, they were hit with tougher rules.
"The four ministries' joint notification really grabbed us by the neck," said the manager of a local government financing platform (LGFP) company in Guizhou Province.
The document he referred to was released on December 24 by the Ministry of Finance, the central bank, the China Banking Regulatory Commission and the National Development and Reform Commission (NDRC).
- In Thursday's Papers: Dongguan Sees Slower Growth after Sex Trade Crackdown, Another China Resources Executive Investigated for Graft
- The 'Ifs' that Could Prevent Tragedies in Regulators' Offices
- Tencent's Deal for SK Entertainment Firm Has Star Potential, Investor Says
- Slashing Sand
- All (European) Politics Is National
- Northwestern Chinese City Counts Cost of Major Water Pollution Scandal
- Privilege Gap
- In Wednesday's Papers: Shenzhen Police Raid Offices of Video Streaming Firm, Gov'ts Made 4.2 Tln Yuan on Land Sales in 2013
- Does U.S. electric car maker Tesla Motors have a bright future in China?
- Budget Law Revision Proposes Letting Local Gov'ts Issue Bonds
- Sign up to receive our free daily newsletter
- The Long Goodbye
- Officials in Shanxi Scramble to Sort out Steelmaker's Debt Mess
- How Telecom Graft in China Tripped Up Telstra
- Shiller: What We Can Learn from Past Crises
- Jack Ma's 6.5 Bln Yuan Bachelor Party
- Stephen Roach: China, U.S. Headed in Opposite Directions
- Graft Inquiry at CNPC Uncovers Shady Deal Involving Productive Oil Block
- The Search for the Chinese Workers Who Helped Build America
- Detective Work by Group in 'Black Jail' Claim Leads to Trial
- P2P Lenders Heading into Dangerous Waters, Critics Say