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Over 50 Billion Yuan Raised by China’s Local Governments Left Idle

2020年06月19日 19:47 来源于 财新网
More than $7 billion meant for infrastructure investment went unused due to a shortage of worthwhile projects and inefficient project management
Some analysts say one key factor may be that local governments had trouble finding enough valuable infrastructure projects to invest in.

Tens of billions yuan of public funds meant for investment in infrastructure and public welfare projects were left idle last year, according to China’s top audit administration.

Some researchers attributed this phenomenon to a shortage of worthwhile projects and local governments’ inefficient fund management.

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