BEIJING, Nov. 14 -- In latest effort to address rising concern over local government debts,China introduced Monday a four-grade emergency plan which could result in a "fiscalrebalance act" on the part of the local government.
The city and county-level governments will be ordered to launch a fiscal rebalance act if itsannual payment for interest of general debts is 10 percent higher than its public spendingbudget, or that for interest of special debts is 10 percent more than its government fundspending budget, according to the emergency plan.
Editor:
余冬梅