China seizes up to $157 bn of unspent local govt budgets: Sources

Last Updated: Monday, September 14, 2015, 18:15

Angry Chinese authorities have seized up to 1 trillion yuan ($157 billion) from local governments who failed to spend their budget allocations, sources said, as Beijing seek ways to stimulate economic growth which is at its slowest for 25 years.

China`s 2015 budget deficit rate higher than declared: Minister

Last Updated: Friday, March 6, 2015, 17:51

China`s budget deficit this year will be higher than previously declared as the government boosts fiscal spending in a bid to bolster economic growth, the finance minister said Friday.

China's budget deficit goes up by 50% to $193 billion

Last Updated: Monday, March 25, 2013, 21:36

Notwithstanding rapid revenue growth, China's budget deficit reached USD 193.2 billion in 2013, marking a 50 percent increase from the previous year.

China hikes defence budget to $115.7 bn

Last Updated: Tuesday, March 5, 2013, 09:16

China on Tuesday hiked its defence budget by 10.7 percent to USD 115.7 billion well above this year`s Indian defence spending of USD 37.4 billion.

‘US playing up China threat to avoid budget cuts’

Last Updated: Saturday, April 7, 2012, 17:07

Chinese think tanks have rejected a US Congressional report on the Communist nation`s weapon`s development, describing it as a trick to offset the Pentagon`s shrinking budget.

China hikes defence budget to $106.4 bn

Last Updated: Sunday, March 4, 2012, 13:40

China Sunday announced that it would spend a whopping USD 106.4 billion on defence this year, an 11.2 percent hike that is likely to trigger concerns among neighbours and others about its military might and growing assertiveness in Asia-Pacific.