China vice-premier signals reform to reshape central-local finances amid funding pressure

Against a backdrop of softened economic growth and slumping land-transfer proceeds that are squeezing local coffers across China, the nation’s top-ranked vice-premier has cast the spotlight on reforms to realign fiscal ties between the central and local governments. During an inspection tour of Anhui province on Tuesday and Wednesday, Ding Xuexiang attended a symposium on “pilot scientific fiscal management” programmes, and Xinhua reported that the vice-premier said Beijing would “increase local