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Exclusive :china Urbanization Plan Hits Roadblock Over Spending Fears-Sources

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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By Kevin Yao BEIJING (Reuters) - China's plan to spend $6.5 trillion on urbanization to bolster the economy is running into snags, sources close to the government said, as top leaders fear another spending binge could push up local debt levels and inflate a property bubble. Premier Li Keqiang has rejected an urbanization proposal drafted by the National Development and Reform Commission (NDRC), seeking changes to put more emphasis on economic reform, according to the sources, who are familiar with the matter. ...

 

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