Houston Community News >>
5/18/2009-- Beijing will have to jam on
the economic brakes to save Chinese cities from bankrupting themselves,
a top Chinese adviser says.
He Fan, an assistant director at the Chinese Academy of Social Sciences who frequently advises China's top leaders, says as much as two-thirds of China's 4 trillion yuan stimulus program will be spent by local governments and financed mainly by state-owned banks.
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He Fan, an assistant director at the Chinese Academy of Social Sciences who frequently advises China's top leaders, says as much as two-thirds of China's 4 trillion yuan stimulus program will be spent by local governments and financed mainly by state-owned banks.
Read More
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