The Chinese mainland is set to adopt a more proactive fiscal policy, as detailed in a government work report submitted on Wednesday to the national legislature for deliberation.
The report outlines that the deficit-to-GDP ratio for this year will be approximately 4 percent, marking a one percentage point increase from last year. This adjustment reflects the mainland's strategy to support economic growth and development amid evolving global and domestic challenges.
Additionally, the government deficit is established at 5.66 trillion yuan (about $780 billion), which represents an increase of 1.6 trillion yuan compared to last year's budget figure. This substantial rise underscores the mainland's commitment to bolstering its fiscal stance to enhance economic resilience.
