Since Kaohsiung Mayor Chen Qimai took office, he has reduced debts by 10.6 billion yuan, surpassing the goal of "debt reduction of 10 billion yuan".

(Provided by the Bureau of Finance)

[Reporter Ge Youhao/Kaohsiung Report] Kaohsiung Mayor Chen Qimai has reduced debts by 10.6 billion yuan since he took office, surpassing the goal of "10 billion debt reductions"!

Chen Qimai listened to the debt reduction report of the Bureau of Finance at the municipal meeting today. He affirmed the hard work of the municipal government team over the past two years and achieved many firsts in finance. He also instructed the municipal government team to aim at zero borrowing in 112 years.

Chen Yongsheng, director of the Kaohsiung City Finance Bureau, said that the initial estimate of 2011 and the final accounts were balanced. The reduction was 10.6 billion yuan, successfully reaching the goal of "debt reduction of 10 billion yuan".

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Chen Yongsheng said that in addition to successful debt reduction, the city government has also achieved a number of results in its financial efforts, including the promotion of participation promotion performance, which ranks first in the country. The previous 476 million yuan, a substantial increase of 130 times.

In addition, the sales of profit-making enterprises in Kaohsiung continued to hit new highs. In 2010, it was 4.52 trillion, and in 2011 it grew to 5.57 trillion, an increase of 1.05 trillion, with a growth rate of 23%, ranking first in the six capitals; In 2011, it grew by 6% over the same period, reaching a new high.

Chen Yongsheng emphasized that after Chen Qimai took office, through promoting participation and attracting investment, he injected revenue growth into the city treasury. Kaohsiung City’s own financial resources exceeded 100 billion (100.2 billion) for the first time in 2011 from 69.9 billion in 100 years, and even reached 100.2 billion in 112 years 110 billion yuan, also a record high.

In addition, after Chen Qimai took office, he replaced the high-interest rate bank loans with lower-interest rate government bonds (57.1 billion yuan). Without increasing the debt, he saved 411 million yuan in interest benefits, ranking first in the Six Capitals.