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Local Government Financing Vehicle
A local government financing vehicle (LGFV) (), also known as a local financing platform (LFP), is a funding mechanism by a local government in China. It usually exists in the form of an investment company that borrows money to finance real estate development and other local infrastructure projects. LGFVs can borrow money from banks, or they can borrow from individuals by selling bonds known as "municipal investment bonds" or "municipal corporate bonds" ( or ), which are repackaged as "wealth management products" and sold to individuals. Since local governments in China are not allowed to issue municipal bonds, LGFVs have played a unique role in securing funding for local governments to develop their economies. However, the vehicles rarely make enough returns to pay back their debts, often requiring local governments to raise more money to pay back their creditors. Both the number and the indebtedness of LGFVs have soared in recent years, sparking fears about their inability to re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Development
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property. Real estate development is different from construction or Home construction, housebuilding, although many developers also manage the construction process or engage in housebuilding. Developers buy land, finance real estate deals, build or have builders build projects, develop projects in joint venture, create, imagine, control, and orchestrate the process of development from the beginning to end.New York Times, March 16, 1963, "Personality Boom is Loud for Louis Lesser" Developers usually take the greatest risk in the creation or renovation of real estate and receive the greatest rewards. Typ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shenzhen
Shenzhen (; ; ; ), also historically known as Sham Chun, is a major sub-provincial city and one of the special economic zones of China. The city is located on the east bank of the Pearl River estuary on the central coast of southern province of Guangdong, bordering Hong Kong to the south, Dongguan to the north, and Huizhou to the northeast. With a population of 17.56 million as of 2020, Shenzhen is the third most populous city by urban population in China after Shanghai and Beijing. Shenzhen is a global center in technology, research, manufacturing, business and economics, finance, tourism and transportation, and the Port of Shenzhen is the world's fourth busiest container port. Shenzhen is classified as a Large-Port Megacity, the largest type of port-city in the world. Shenzhen roughly follows the administrative boundaries of Bao'an County, which was established since imperial times. The southern portion of Bao'an County was seized by the British after the Opium Wars an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government-owned Companies Of China
State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget. Public ownership can take place at the national, regional, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/cooperative, and common ownership. In market-based economies, state-owned assets are often managed and operated as joint-stock corporations with a government owning all or a controlling stake of the company's shares. This form is often referred to as a state-owned ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate In China
Real estate in China is developed and managed by public, private, and state-owned red chip enterprises. In the years leading up to the 2008 financial crisis, the real estate sector in China was growing so rapidly that the government implemented a series of policies—including raising the required down payment for some property purchases, and five 2007 interest rate increases—due to concerns of overheating. But after the crisis hit, these policies were quickly eliminated, and in some cases tightened. Beijing also launched a massive stimulus package to boost growth, and much of the stimulus eventually flowed into the property market and drove prices up, resulting in investors increasingly looking abroad. By late 2014, the IMF warned that a real estate oversupply problem had arisen that threatened to cause detrimental effects to the Chinese economy, particularly in 2nd and 3rd tier cities. As of 2015, the market was experiencing low growth and the central government had eased p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In China
China's banking sector had () in assets at the end of 2020. The "big four/five" state-owned commercial banks are the Bank of China, the China Construction Bank, the Industrial and Commercial Bank of China, and the Agricultural Bank of China, all of which are among the largest banks in the world . The Bank of Communications is sometimes included. Other notable big and also the largest banks in the world are China Merchants Bank and Ping An Bank. History Chinese financial institutions conducted all major banking functions, including the acceptance of deposits, the making of loans, issuing notes, money exchange, and long-distance remittance of money by the Song Dynasty (960-1279). In 1024, the first paper currency was issued by the state in Sichuan. The two major types of indigenous Chinese financial institutions, () and (), more often cooperated than competed in China's financial market. Due to structural weaknesses of traditional Chinese law, Chinese financial instituti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Government In China
The People's Republic of China is run by a single party, the Chinese Communist Party (CCP), headed by the CCP General Secretary who tends to be the paramount leader of China. China is among few contemporary party-led dictatorships to not hold any direct elections at the national level. State power within the People's Republic of China (PRC) is exercised through the CCP, the State Council, and its provincial and local representation. The state uses , secret documents produced by Xinhua News Agency as a form of internal intelligence sharing to keep high-level CCP cadres informed of developments within the country. China's two special administrative regions (SARs), Hong Kong and Macau, have multi-party systems separate from the mainland's one-party system. Aside from the SARs, the PRC consists of 22 provinces (excluding Taiwan Province and ROC-controlled Fujian), four directly administered municipalities (Beijing, Shanghai, Tianjin, and Chongqing), and five autonomous regions ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Daokui Li
Li Daokui (; born 22 December 1963) is a Chinese economist and the Mansfield Freeman Professor of Economics and director of the Center for China in the World Economy (CCWE) at Tsinghua University's School of Economics and Management (SEM), where he teaches courses on economic transition, corporate finance, international economics, and China's economy. In 2013, Li was appointed the founding dean of the Schwarzman Scholars program at Tsinghua. Li Daokui is a part of an academic trio that replaced Fan Gang to the Monetary Policy Committee of the People's Bank of China (PBOC), China's central bank. He is a former member of the Chinese People's Political Consultative Conference. Career Li has held numerous positions in academia. These include a visiting scholarship at the Center for International Development (CID) of the Harvard Kennedy School (1986), assistant professor at the University of Michigan-Ann Arbor, research fellow at the Hoover Institute of Stanford University, and pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprises Of China
This is a list of state-owned enterprises of China. A state-owned enterprise is a legal entity that undertakes commercial activities on behalf of an owner government. Their legal status varies from being a part of government to stock companies with a state as a regular or dominant stockholder. There is no standard definition of a government-owned corporation (GOC) or state-owned enterprise (SOE), although the two terms are often used interchangeably. The defining characteristics are that they have a distinct legal shape and they are established to operate in commercial affairs. While they may also have public policy objectives, SOEs should be differentiated from other forms of government agencies or state entities that are established to pursue purely non-financial objectives. The role of the Chinese Communist Party (CCP) in SOEs has varied at different periods but has increased during the rule of CCP General Secretary Xi Jinping, with the Party formally taking a commanding role i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
