[China] CCP admits ‘desperately short of money’

Dec 30, GNews, from VOG-Candy, Taiwan. Cover pic by VOG poster design team.

The left article is the announcement from the Ministry of Finance in China during the National Financial Work Conference on December 26th and 27th. The announcement states, ‘be ready for the tough days in the near future, decrease expenditure, increase profit, pinch pennies, promoting frugalism, demoting luxury and saving resources of all aspects. To define the direction of focusing on priority expenditure. We must further decrease general expenditure and cancel the unnecessary project.’

The right article is from Xinhua News Agency’s reviewing according to the announcement made by the Ministry of Finance on December 27th. The tax and fee of this year have been cut exceeding the original plan of nearly 2 trillion RMB. The National Financial Work Conference that closed on the 27th conveyed an important message under the strong fiscal policy. Facing the difficulty of low revenue and high expenditure, the government should be more precise and spend every penny for the right cause. The government always mentioning about the tough days but this year has been very unusual. Under the complicated domestic and international economic situation, the government must reduce the tax and lower the fees for the citizen. Undoubtedly, it can alleviate the problems our market is facing but at the same time also increase the pressure of break even. To achieve the goal of building a well-off society, a series of key expenditures such as poverty alleviation and pollution control needs to be guaranteed. This requires governments to carry forward the fine tradition of hard work, decrease expenditure, increase profit, pinch pennies, promoting frugalism, demoting luxury and saving resources of all aspects. These requirements repeatedly emphasized at the National Finance Work Conference, is the consensus that governments at all levels must take the lead in. The government of central finance strictly controls departmental expenditures in 2019 and even more strictly next year. The local financial department must also follow the central financial department to decrease more general expenditure based on previous results.

From these two articles, people can see both the Chinese government department and CCP controlled propaganda news are proving the fact that CCP is running out of cash. There are many proves we can find in these two articles. The first is “tough days”. These Chinese terms have been mentioned in the articles for the most. The meaning of “tough days” can be translated in many ways but are all in a negative way. Actually the situation is even worse than how the CCP mentions. Therefore “rough days” are more suitable in these articles. The second point is cutting expenditure severely. If a government’s finance is healthy, they won’t try to cut expenditure. It has been a rough year for CCP due to the trade war causing companies to move out of China. Bad economic leads to receiving low taxes, forcing them to cut government expenditure. The third reason is bad news. CCP is a government that wanted to hide the ugly truth and save faces. Their propaganda is always positive and showing how to prosper the economy and how strong they are. However, these two articles alarm the struggles and upcoming challenges that are hard to see before. In conclusion, people can see CCP is desperate. China is in a bad economic and needs money to save economic but they just don’t have enough cash on hand to reverse their desperate situation.

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