The Traderszone Network

Published in TZ Latest News 14 September, 2015 by The TZ Newswire Staff

Chinese authorities seize yuan 1 trln of unspent local government budgets

Reuters out with an exclusive
– angry Chinese authorities have taken back up to yuan 1 trln for local govts who have failed to spend their budget
– the huge underspend is linked to officials’ reluctance to spend on big-ticket projects while authorities crack down on corruption
Reuters sources close to those in central govt, including an economist say: