Many debt documentary: Government IOU into currency notes | local government debt _ news
(China · sharp topics · debt) village with "Zhang mu niang", every creditor
Debt--many MTV documentary
Xinhua, Wuhan, August 20, Reuters new media more than 5,000 families in the town, almost all government creditors "discount buying" Government IOU into business ious can even buy things became "currency in circulation"; a province set up 448 rural financing platform companies for the new debt, over 70% not profitable ... ...
These startling facts and figures, is the true portrayal of our country's debt predicament as much. Why should the district debt situation so acute? How embarrassing human debt mess will end? Xinhua News Agency, "China" recently conducted a survey as much.
Town collection to the Government, had picked the town government signs
Priority in recent years, is "change". It was who was recently awarded a national "best cadres" town Party Secretary profile.
His name is Tang Shulin, Kwan-yin Temple in Taoyuan County, Hunan province, town Party Secretary, led the development of rural cadres and the masses to get rich and famous. But many people may not know that debts are his troubles over the years.
"You don't know how hard it is to Township, almost on a daily basis are able to put people to death! "The 40 year old Tang Shulin Revere looking weary in the early thirties.
Temple town is located in the deep of the mountains in northwestern Hunan, last century 90 's town government because it failed to raise funds to set up cement plant, mats before and after taxes fees and other reasons, the liabilities up to 127 million dollars, almost all of the more than 5,000 households in the town is the Government's creditors. Debt collection when the most intense of these residents have been picked the town government signs.
Plagued by debt and other issues, Tang Shulin's predecessor, was being fired on the spot, it was dry for half a year before resigning. Town Government faced "parent task is not completed, to repay Government debt, wages and benefits are not implemented, canteens not firing, leaders at all levels do not want to go, the staff does not work, people do find people" embarrassing situation.
After the appointment of Tang Shulin, relying on friends and relatives to borrow hundreds of thousands of dollars to restore operation. In recent years, debt problems while improving, but Tang Shulin still need brains to dealing with debt collectors, doing relief work, work very hard.
Temple town debt since principles: who's funeral, who have their children to study at home, employment difficulties, disasters who have the; dispute to the parent project, who have a construction contract, in thousands of scattered among creditors who have "buy" a certain number of Government ious, to narrow the total creditor.
Overall rural reform, Taoyuan Guo Xuebing, Director of the Office of the leading group, told reporters that 39 towns in Taoyuan County total liabilities total liabilities amounted to 810 million Yuan, average liabilities of 20.256 million yuan in villages and towns. Creditors of up to more than 21,000 people, the vast majority of local cadres and masses.
Of towns in Hunan, some heavily indebted, the reporter also learned, "discount buying" Township government ious are "businesses" ious had even discount shopping, became "currency in circulation".
Named "take the boat to cross the river", in fact, changed to borrow
Old debts are "tanking", new debt started to quietly.
"The financing vehicles to the countryside", gave birth to as much new debt in recent years is a new trick.
In Hubei, where urbanization has "high profile"--preferably a "provincial strategies," second best option but also unnecessarily municipal level; to have "high standards"-professional design company involved, city and County Government departments cannot own programme has simply done; it requires "all platforms"-the introduction of large-scale capital investment ... ...
So "high standards and strict requirements," where did money come from?
Reporters in Hubei, Hunan and other places learned that in recent years rural land development financing mode of financing construction, typically requires developers to fund construction of infrastructure such as small town high street, through the land auction to repay funds after the project is completed.
A township in the Middle, vertical and horizontal points to the Township Road widening, documentation, upgrades, landscaping, lighting, landscaping, etc, need to invest tens of million calculations. Considering the sources of construction fund, the town's answer is: through innovative models and paths, take the financing model for land development project funds raised, capital operation through the funding bottleneck.
These towns will vividly these financing means to "take the boat to cross the river." For merchants to invest in land must first be underwritten, according to the planning standards related to the construction of infrastructure projects. According to the calculations in advance, after the construction of infrastructure such as roads and bring flow together, then formed the investment value of their business and attract more investment.
But in reality, the move end-or township-level commercial land auctions. Once a project or later in the process of land transfer income is ineffective, not only land auctions will not solve the financing problems of urban construction funds, is also easy to form new debt.
Reporters found that the Township in the developed coastal provinces, the Mainland "by boat to cross the river" such techniques seem to have far more exuberant Fund is insufficient to meet demand. Accordingly, some of the villages and towns finance in many economically developed coastal provinces have entered the "high-end"--financing platforms have sprung up in villages and towns. Some towns also has set up a "Finance Office", the jurisdiction of one or more financing platform companies.
Coastal economically developed provinces the auditing Department released last year, the province's township debt special audit findings showed that by the end of 2011, the province a total of 448 rural financing platform companies, debt balances 17.411 billion yuan, accounting for 43.55% of the total debt of villages and towns across the province.
Old debt for new debt stacking "Snowball Earth" roll over to fry
Government debt audit results released earlier this year showed that by the end of June 2013, Hunan and Hubei Township government bears direct responsibility for the debt totaled $ 11.486 billion and 19.418 billion yuan national Government assumes responsibility, liability, warranty or relief of debts amounted to 307.012 billion yuan, Yuan and 46.115 billion yuan respectively.
Reporter understanding to, China Township debt history owed, derived from four a "into debt": a is disaster relief emergency financing funds into debt; II is rural education, and based construction, and Ji Wei preferential treatment, and dimension stability received visit, spending into debt; three is "three mention five Commission" era members cadres pad tax fee into debt; four is township set up various enterprise voted financing failed into debt.
Some experts pointed out that Township due to "old debt" existed for a long time for more than 10 years, or even longer. Behind the calm surface, is interest-bearing credit card a "snowball", "drag big, long drag to fry."
The reporters found that the counties by settling debt problems, its finances run stretched, often "sticky", "eat the financial" unsustainable, mostly by the higher transfer payments, running projects and funding to the "beggar finance" to sustain them. The debt-ridden Township, the situation is even more severe.
The provincial auditing Department found on the East Coast before, the unprofitable rural financing platform companies reached 319, 71.21% (loss of 192, 42.86%).
Released this year, Hunan province, Hubei Province, the audit findings show that by the end of June 2013, respectively, the two provinces had 293 and 443 County bears responsibility for the debt of the Government debt ratio is higher than 100%. In the economically developed coastal province, the local Government bears direct responsibility for the debt some of them over more than 57 billion dollars. Plus the local township government debt of salvage warranties or responsibility, is approaching the multi-billion-dollar mark. National Audit Office report revealed that 3,465 townships across the country bears responsibility for the debt of the Government debt ratio is higher than 100%. (Reporter Su Xiaozhou, Shen 翀, and Wang Shengzhi, Du Fang, Liu, Feng Lei, Li bin, leaf front)
16:20 on August 20, 2014
Xinhua NET
