Provincial, Regional Gov'ts Prepare for a More Frugal Future

(Beijing) – Six provincial and regional governments have reported that they missed their targets for revenue growth in 2014, as the country's economy slowed down, prompting the cabinet to give its advice on how they can balance their budgets.

Twenty governments of China's regions, provinces and municipalities published information about their income for last year as of January 15. Sichuan, Hunan, Shandong and Jilin provinces and the regions of Guangxi and Ningxia all said they fell short of their goal. Eighteen had lower growth rates than in 2013; only Shanghai and Guangdong did better.