APA(S)
PA CR 3/4841/62
Mons 60012
31
10-
Budget
r
My Home
China's Budget Deficit
1.
Last year, during the Airport Talks, Lu Ping told
the Governor, when we were discussing the Land Fund estimate
for 1997, that China's budget estimates always turned out
to be more or less correct.
2.
I noted with interest that this year China's
deficit was Y20.786 billion, when it had been predicted
to be Y13.346 billion. Finance Minister Wang Bingian was
thus 56% out.
c.c.
bo.e. thoma
(W G Ehrman)
Political Adviser
31.3.92
CS
FS
S for TSY
Mr Peter Ricketts, HKD, F C O
XP