China’s Finance Minister Lan Fo’an announced on Saturday that the country will implement three pivotal measures to maintain necessary fiscal spending. Speaking at a press conference, Lan emphasized the importance of these steps in bolstering economic stability and achieving annual development goals.
The first measure focuses on ensuring that key expenditures are fully met. This includes vital areas such as education, social security, healthcare, and infrastructure development. By prioritizing these expenditures, China aims to support its population’s well-being and lay a strong foundation for long-term growth.
Secondly, the government plans to give full play to the counter-cyclical regulation of fiscal expenditures. This approach involves adjusting spending patterns to counteract economic fluctuations, stimulating growth during downturns, and curbing overheating during upswings. Strategic fiscal regulation is expected to enhance economic resilience and promote steady progress.
The third measure is dedicated to achieving the annual economic and social development goals and tasks. By aligning fiscal policies with these objectives, China intends to facilitate sustainable development, reduce disparities, and enhance the overall quality of life for its residents.
These measures reflect China’s commitment to proactive fiscal management amidst global economic uncertainties. By maintaining necessary expenditure levels and strategically regulating fiscal activities, the government aims to navigate challenges and foster a robust economic environment.
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China to take 3 measures to maintain necessary fiscal expenditure
cgtn.com
