Date
23 August 2017

Local govt debt eyed as key performance indicator, Xinhua says

Local government debt will be used as an important performance indicator when evaluating local leadership, the official Xinhua news agency reported Monday, citing a notice sent out by the Organization Department of the Communist Party’s Central Committee. The move to look beyond a region’s economic growth in reviewing performance is aimed at eliminating a common attitude among local officials to ignore the debt left behind by their predecessors or incur more loans for future generations to pay. Also, gross domestic product will no longer be considered an important gauge in assessing the performance of local officials in areas where development is restricted or vulnerable ecologically, the report said.

– Contact HKEJ digest@ejinsight.com

TL/AC/CG

 

 

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