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MNI: China Should Control Fiscal Spending:....>

CHINA
CHINA: MNI: China Should Control Fiscal Spending: Fmr Minister Lou
- China should be conservative in its management of fiscal spending and shun
large infrastructure investments just for the sake of stimulating growth, a
former Minister of Finance said Sunday. Both central and local governments are
overburdened with debt and increasing spending on social securities will see
them take on more, said Lou Jiwei, now chairman of the National Council for
Social Security Fund. Boosting leverage only adds to future risks as the country
grapples with structural reform, he said at a Beijing forum.
- For full story see MNI Main Wire at 05:12 GMT 11/19, or contact us for full
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