China to cut deficit, curb government investment in 2005: official
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BEIJING  - The Chinese government will try to cut its huge deficit next year and curb investment financed from public coffers, state media said, quoting Vice Finance Minister Lou Jiwei.
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A surprise 31% jump in China's fixed-asset investment during July raises question marks over government attempts to curb spending.
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The governor of ChinaÂs central bank said economic growth is likely to slow slightly in the rest of 2006 and in 2007 as the bank acts to reduce liquidity.
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China can manage to slow its roaring economy to a sustainable level, but only if it avoids loosening curbs on lending and investment too quickly, the International Monetary Fund said Wednesday.
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Three quarters of Communist China's economy will be non-state-owned by the end of this decade, state media reports, highlighting a clear trend of slipping state control.
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WASHINGTON -- The nation's budget deficit will drop to $205 billion in the fiscal year that ends in September, less than half of what it was at its peak in 2004, according to new White House estimates.
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LONDON (CBS.MW)-- The Organization for Economic Co-operation and Development expects Chinese economic growth to slow to 8 percent in 2005, reflecting high oil prices and new government measures, AFX news reported from Paris.
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China has succeeded in curbing investment and credit growth, and the priority now is to free up interest rates, a central banker said in remarks that may signal long-awaited capital market reforms are drawing nearer.
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Officials are examining new steps to cool off China's sizzling economy as its top planning agency called for tighter bank credit and curbs on construction, state media reported.
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China pledged to invest $19.7 billion in Argentine railroad, energy, telecommunications and housing projects over the next 10 years, an Argentina government official said.
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PARIS  - France's public deficit will drop by about &#36;12 billion US in 2005 to conform with European Union rules, the French premier said in an interview.
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China's economic growth may ease  slightly this year to 10.5 percent from the estimated 11.5  percent rate of expansion in 2007, a researcher at a state  think-tank said on Friday, as the government cooling steps take  effect.
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China ordered banks to put aside more money as reserves for the seventh time this year to cool lending and investment after inflation accelerated to a 10-year high.
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President Bush said Monday he will submit a federal budget that will cut the deficit in half in five years and maintain strict spending discipline.
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TOKYO : The Japanese government has outlined plans to cut its spending for the next fiscal year. This comes as it projects that the world&#39;s second largest
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China needs to do more to control spending on construction, factories and other &quot;fixed assets&quot; to curb growth and cool inflation, state media reported Monday, citing top government officials.
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TOKYO The Japanese government said Monday that it planned to cut its budget deficit by 6 percent next fiscal year in a bid to curb an expansion of the world&#39;s largest public debt.