Inner Mongolia scales back

Source:Reuters-Global Times Published: 2018/3/14 21:58:42

The finance chief of North China's Inner Mongolia Autonomous Region said the regional government is scaling back some project investments as part of an effort to control debt risks but noted debt levels remained within ranges set by the central government.

Zhang Lei, head of the region's finance office, said State projects were put on hold as the regional government takes a more conservative approach to major outlays in line with the central government's call to prevent risks. Some projects that exceed current financial resources will be suspended, others may be scaled back and some may be canceled, Zhang noted. "From a long-term perspective, these projects should be built ... maybe we can do them 10 or 20 years down the road," he said.

Posted in: COMPANIES

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