Asia Pacific round-up: China credit growth rebounds as monetary easing spurs loans, and more

16 Oct 15

A round-up of public finance news stories from Asia Pacific you might have missed.

China’s broadest measure of new credit exceeded estimates in September, suggesting the government’s efforts to boost lending are gaining traction. (Bloomberg)

Government is set to unveil an ambitious PAN activity monitoring and analysis software tool that will enable Income Tax department to check transactions history of a person country-wide and sleuths in effective tracking of black money trail. (Times of India)

The local government 'bond bank' is quietly trying to increase the salaries of its directors, without directly informing the councils which own it. (stuff.co.nz)

ANALYSIS: Successive governments in India have demonstrated unwillingness to grasp the nettle of radical public sector bank reform. These banks own a little over two-thirds of the assets of the country’s banking sector, but earn about a third of the profits. This implies that the return on assets of the other banks — mainly the domestic private sector banks — is over four times that of the public sector banks. (Financial Times)

Malcolm Turnbull has drawn a line under Tony Abbott’s opposition to federal funding for public transport projects, using a visit to Queensland to pledge $95m towards the second stage of the Gold Coast light rail. (The Guardian)

 

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