China’s Finance Minister Emphasizes Proactive Fiscal Measures to Strengthen Economic Recovery
China’s Finance Minister Lan Fo’an has underscored the need for a proactive fiscal policy to consolidate and enhance the nation’s economic recovery. In an article published on Saturday, Lan highlighted the ministry’s commitment to implementing the directives of the Central Economic Work Conference and the specific arrangements outlined in the Government Work Report.
Lan stressed the importance of increasing fiscal expenditure to stimulate growth. He announced that China has set a quota of 3.9 trillion yuan (approximately $550 billion) for new local government special-purpose bonds this year. This move is aimed at expanding the scope of special bond issuance and optimizing the use of project capital funds to support key infrastructure projects and other critical sectors.
The Finance Minister’s remarks echo the broader economic strategy of the Chinese government to maintain steady growth amid global uncertainties. By leveraging fiscal tools, China aims to bolster domestic demand, support market entities, and ensure economic stability.
This proactive approach reflects China’s ongoing efforts to navigate the post-pandemic economic landscape, focusing on sustainable development and high-quality growth.
Reference(s):
Minister: China implements proactive fiscal policy to support economy
cgtn.com
