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 | Tuesday, April 18, 2000, updated at 17:20(GMT+8) | ||||||||||||
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Financial Minister: Issuing Bonds Will Bring No InflationChina's Finance Minister Xiang Huaicheng lately pointed out that increasing issuance of bonds will not trigger inflation nor cause a government debt crisis as a pro-active financial policy has been adopted by the central government.Xiang Huancheng made these remarks at the ongoing Chinese Business Summit 2000 in Beijing on April 17. He said that China's economy is generally run on a sound track but there are still tough problems we have to face today, especially an insufficiency in market demand and services. Xiang made it clear that the ratios of China's fiscal deficits and outstanding bonds in last year's GDP were both within the safe limits accepted by the international community, taking 2.8�� and 12.7�� respectively. Therefore, China has leeway to further implement the policy to expand its domestic demand; it has been ready to issue an extra amount of long-term national debts at the value of 100 billion yuan, he stressed.
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