From Bloomberg.com:
China’s government will increase spending at a slower pace this year and sell fewer bonds to fund infrastructure projects to help cool the world’s fastest-growing major economy, according to Finance Minister Jin Renqing.
China forecasts a 13.7 percent increase in total spending in 2005 to 3.23 trillion yuan ($390 billion), down from 15.1 percent last year, Jin said in a report to the National People’s Congress today. The government, plans to sell 80 billion yuan of bonds for infrastructure in 2005, 27 percent lower than in 2004.
Thanks to Liu Yong for providing this link.
