Does the Key to the Overextension of the Basic Construction Front Lie in Uncompensated Allocation of Funds?

Cai Yanchu

Chinese Economy, 1981, vol. 15, issue 1, 31-37

Abstract: The overextension of the basic construction front is a most serious problem in the national economy at the present time. While there seems no longer to be any dispute over this fact which is clear to all, there are different views on what has caused the overextension of the basic construction front. At present one of the more popular explanations is that the key to the overextension of the basic construction front lies in the fact that the capital for basic construction ... is appropriated from the state budget. There are even people who say that the problems of overextension of the basic construction front and the overstocking of materiel are "all chronic illnesses caused by the financial system in which funds are allocated without compensation." Therefore, it is necessary to switch basic construction investment from uncompensated allocation to bank loans.

Date: 1981
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