- Chinese government seizes up to 1 trillion yuan from local governments who did not spend their budget
Market news
15 September 2015
Chinese government seizes up to 1 trillion yuan from local governments who did not spend their budget
Sources that are close to the government said that the Chinese government seized up to 1 trillion yuan ($157 billion) from local governments who did not spend their budget to stimulate the country's growth. The money should be used for other investments.
"Investments were not realised, and the money will be reallocated," the source said.
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