Monday, July 29, 2013

Beijing takes steps to curtail lavish municipal spending

Beijing is taking drastic steps to curtail excessive, wasteful spending by local-level officials and bureaucracies, but the effectiveness of the new course remains to be seen.
Last week, China's leadership - namely, the offices of the State Council and the central committee of the ruling Communist party - jointly issued a directive banning the construction of government buildings for a five-year period.
It is not the first move made by Chinese President Xi Jinping to limit extravagant spending by municipallevel governments. Soon after he took office late last year, he moved to outlaw lavish banquets, receptions, travel junkets and other excessive spending habits of government officials.

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