The Urban Development Investment Corporations (UDICs) in Chongqing, China

World Bank

dc.creator	World Bank
dc.date	2012-03-19T10:23:50Z
dc.date	2012-03-19T10:23:50Z
dc.date	2010-01-01
dc.date.accessioned	2023-02-17T20:43:27Z
dc.date.available	2023-02-17T20:43:27Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000334955_20100813023912
dc.identifier	http://hdl.handle.net/10986/2888
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/243245
dc.description	Urban Development Investment Corporations (UDICs) have over the years become the central pillar in the local government drive to build infrastructure in China, where local governments are not allowed to engage in direct market borrowing. UDICs were established during the early 1990s when local governments were under great pressure to both build municipal infrastructure and to reform the role of the government in infrastructure development. The UDIC model provided the local governments with a corporate government structure to borrow from the market and quickly develop infrastructure. They are treated as municipal corporations under the Company Law of the Peoples' Republic of China (PRC). The law does not clarify the relationship between UDICs and the local government, including the limits of the financial liability of the local governments vis-a-vis UDICs. The Government of China (GOC) agencies expect that the World Bank (WB) Technical Assistance Report (TAR), based on the detailed analysis of the financial operations of a selected UDIC in Chongqing, will offer critical technical assistance to the Chongqing Municipal Government (CMG), which can also be shared with other Chinese cities. The GOC agencies realize that this TAR is the first step in the right direction, in that it will specifically address the needs of a reform-minded municipal government and clarify one UDIC model in detail. It is anticipated that similar efforts can be undertaken in the coming years with other reform-minded and high-priority cities that are employing different models of UDIC to finance municipal infrastructure.
dc.language	English
dc.publisher	World Bank
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCOUNTABILITY
dc.subject	ACCOUNTING
dc.subject	ACCOUNTING STANDARDS
dc.subject	ADB
dc.subject	AMORTIZATION
dc.subject	ASSET LIABILITY MANAGEMENT
dc.subject	ASSET MANAGEMENT
dc.subject	ASSET SALES
dc.subject	ASSET TRANSFERS
dc.subject	AUCTION
dc.subject	AUDITING
dc.subject	BALANCE SHEET
dc.subject	BALANCED BUDGETS
dc.subject	BANK
dc.subject	BANKING SECTOR
dc.subject	BANKING SECTOR REFORMS
dc.subject	BANKS
dc.subject	BOND
dc.subject	BOND ISSUANCE
dc.subject	BONDS
dc.subject	BORROWING
dc.subject	BUDGET
dc.subject	BUDGETING
dc.subject	BUDGETS
dc.subject	CAPITAL
dc.subject	CAPITAL BASE
dc.subject	CAPITAL REQUIREMENT
dc.subject	CAPITAL STRUCTURE
dc.subject	CAPITALS
dc.subject	CASH FLOW
dc.subject	CASH FLOWS
dc.subject	CENTRAL GOVERNMENTS
dc.subject	COLLECTIONS
dc.subject	COMMERCIAL BANK LOANS
dc.subject	COMMERCIAL BANKS
dc.subject	COMPANY LAW
dc.subject	CONTINGENT LIABILITIES
dc.subject	CONTINGENT LIABILITY
dc.subject	CONTRACT
dc.subject	CONTRACTS
dc.subject	CORPORATE GOVERNANCE
dc.subject	COSTS
dc.subject	CREDIT
dc.subject	CREDIT RATING
dc.subject	CREDIT RATING AGENCY
dc.subject	CREDIT RISK
dc.subject	CREDITWORTHINESS
dc.subject	CRITERIA
dc.subject	CURRENT ASSETS
dc.subject	DEBT
dc.subject	DEBT MANAGEMENT
dc.subject	DEFICITS
dc.subject	DEVELOPMENT BANK
dc.subject	DEVELOPMENT BANKS
dc.subject	DIRECT INVESTMENTS
dc.subject	DRAINAGE
dc.subject	DRIVERS
dc.subject	DRIVING
dc.subject	ENTERPRISES
dc.subject	EQUITY
dc.subject	EXCESS LIQUIDITY
dc.subject	EXPENDITURE ASSIGNMENTS
dc.subject	EXPRESSWAYS
dc.subject	FINANCE
dc.subject	FINANCE INFRASTRUCTURE
dc.subject	FINANCIAL DISTRESS
dc.subject	FINANCIAL INFORMATION
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL LEVERAGE
dc.subject	FINANCIAL MANAGEMENT
dc.subject	FINANCIAL MARKET
dc.subject	FINANCIAL PERFORMANCE
dc.subject	FINANCIAL PLANNING
dc.subject	FINANCIAL POLICIES
dc.subject	FINANCIAL RISK
dc.subject	FINANCIAL STATEMENTS
dc.subject	FINANCIAL SUSTAINABILITY
dc.subject	FINANCIAL WEAKNESS
dc.subject	FINANCING OF INFRASTRUCTURE
dc.subject	FINANCING SOURCES
dc.subject	FISCAL DECENTRALIZATION
dc.subject	FISCAL POLICY
dc.subject	FIXED ASSET
dc.subject	FOREIGN BANKS
dc.subject	FOREIGN EXCHANGE
dc.subject	FOREIGN EXCHANGE RISK
dc.subject	FOREIGN EXCHANGE RISK MANAGEMENT
dc.subject	FUTURE
dc.subject	GOOD
dc.subject	GOVERNANCE
dc.subject	GOVERNMENT BONDS
dc.subject	GOVERNMENT OWNERSHIP
dc.subject	GOVERNMENT REGULATION
dc.subject	GOVERNMENT REVENUE
dc.subject	GOVERNMENT SUBSIDY
dc.subject	GRANTS
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	GUARANTEE
dc.subject	GUARANTEES
dc.subject	HIGHWAY
dc.subject	HIGHWAY CONSTRUCTION
dc.subject	HIGHWAY PROJECTS
dc.subject	HIGHWAYS
dc.subject	HOUSING
dc.subject	HUMAN RESOURCES
dc.subject	INDUSTRY
dc.subject	INFORMATION SYSTEM
dc.subject	INFRASTRUCTURE
dc.subject	INFRASTRUCTURE DEVELOPMENT
dc.subject	INFRASTRUCTURE FINANCE
dc.subject	INFRASTRUCTURE INVESTMENT
dc.subject	INFRASTRUCTURE PROJECTS
dc.subject	INITIATIVES
dc.subject	INSTITUTIONAL DEVELOPMENT
dc.subject	INSURANCE
dc.subject	INTANGIBLE
dc.subject	INTEREST
dc.subject	INTEREST RATE
dc.subject	INTEREST RATE RISK
dc.subject	INTEREST RATES
dc.subject	INTERESTS
dc.subject	INTERNAL CONTROLS
dc.subject	INTERNATIONAL CREDIT
dc.subject	INTERNATIONAL CREDIT RATING
dc.subject	INTERNATIONAL RATING AGENCY
dc.subject	INVESTMENT CORPORATION
dc.subject	INVESTMENT CORPORATIONS
dc.subject	INVESTMENT RISK
dc.subject	INVESTMENTS
dc.subject	INVESTOR
dc.subject	JOINT STOCK COMPANY
dc.subject	LABOR
dc.subject	LAND
dc.subject	LAND DEVELOPMENT
dc.subject	LAND USE
dc.subject	LAND USE POLICIES
dc.subject	LAWS
dc.subject	LEGAL FRAMEWORK
dc.subject	LENDING
dc.subject	LIABILITY
dc.subject	LIABILITY MANAGEMENT
dc.subject	LIQUIDITY MANAGEMENT
dc.subject	LIQUIDITY POSITION
dc.subject	LOAN
dc.subject	LOANS
dc.subject	LOCAL FEES
dc.subject	LOCAL GOVERNMENT
dc.subject	LOCAL GOVERNMENT TAXES
dc.subject	LOCAL GOVERNMENTS
dc.subject	LOCAL LAWS
dc.subject	MANAGEMENT INFORMATION SYSTEMS
dc.subject	MANDATES
dc.subject	MARKET
dc.subject	MARKET BORROWING
dc.subject	MARKET DEVELOPMENT
dc.subject	MARKETS
dc.subject	MATURITIES
dc.subject	MILEAGE
dc.subject	MUNICIPAL GOVERNMENTS
dc.subject	MUNICIPALITIES
dc.subject	OPERATIONAL REVENUES
dc.subject	OPERATIONAL RISKS
dc.subject	OWNERSHIP STRUCTURE
dc.subject	PETROLEUM GAS
dc.subject	POTENTIAL INVESTORS
dc.subject	PRICE SETTING
dc.subject	PRICING
dc.subject	PRIMARY MARKET
dc.subject	PRINCIPAL
dc.subject	PROFIT
dc.subject	PROFIT MARGIN
dc.subject	PROFITABILITY
dc.subject	PROJECTS
dc.subject	PROPERTY
dc.subject	PUBLIC BUDGETS
dc.subject	PUBLIC EXPENDITURES
dc.subject	PUBLIC SERVICES
dc.subject	PUBLIC TRANSPORTATION
dc.subject	PUBLIC UTILITIES
dc.subject	RAIL TRANSPORT
dc.subject	RAIL TRANSPORTATION
dc.subject	RAILWAY
dc.subject	RAILWAY SECTOR
dc.subject	RAILWAYS
dc.subject	REORGANIZATION
dc.subject	REVENUE
dc.subject	REVENUE ASSIGNMENT
dc.subject	REVENUE SOURCES
dc.subject	RING ROAD
dc.subject	RING ROADS
dc.subject	RISK
dc.subject	RISK CONTROL
dc.subject	RISK MANAGEMENT SYSTEMS
dc.subject	RISK PROFILE
dc.subject	ROAD
dc.subject	ROAD MAINTENANCE
dc.subject	ROAD PROJECTS
dc.subject	ROADS
dc.subject	SAFETY
dc.subject	SANITATION
dc.subject	SECURITIES
dc.subject	SECURITIES MARKET
dc.subject	SECURITY
dc.subject	SERVICES
dc.subject	SHARE
dc.subject	STOCK
dc.subject	STRUCTURAL PROBLEMS
dc.subject	SUBNATIONAL GOVERNMENTS
dc.subject	SUBSIDIARIES
dc.subject	SUBSIDIARY
dc.subject	SUBSIDIES
dc.subject	SUBSIDY
dc.subject	TAX
dc.subject	TAX REFORM
dc.subject	TAX REVENUE
dc.subject	TAXATION
dc.subject	TAXES
dc.subject	TAXIS
dc.subject	TECHNICAL ASSISTANCE
dc.subject	TOLL
dc.subject	TOLL REVENUES
dc.subject	TOLL ROADS
dc.subject	TRAFFIC
dc.subject	TRAFFIC LAWS
dc.subject	TRAFFIC MANAGEMENT
dc.subject	TRAFFIC SYSTEM
dc.subject	TRAINS
dc.subject	TRANSFERS
dc.subject	TRANSPARENCY
dc.subject	TRANSPORT
dc.subject	TRANSPORT TERMINALS
dc.subject	TRANSPORTATION CONSTRUCTION
dc.subject	TRANSPORTATION PLAN
dc.subject	TRANSPORTATION PROJECTS
dc.subject	TRANSPORTATION SERVICES
dc.subject	TREASURY
dc.subject	TRUE
dc.subject	TUNNELS
dc.subject	URBAN DEVELOPMENT
dc.subject	URBAN RAIL
dc.subject	URBAN ROADS
dc.subject	URBANIZATION
dc.subject	VALUE
dc.subject	VEHICLE
dc.subject	VEHICLES
dc.subject	WAGES
dc.subject	WATER SUPPLY
dc.subject	WRITEOFFS
dc.title	The Urban Development Investment Corporations (UDICs) in Chongqing, China
dc.type	Economic & Sector Work :: Other Urban Study
dc.coverage	East Asia and Pacific
dc.coverage	East Asia
dc.coverage	Asia
dc.coverage	China