China’s finance minister highlights proactive fiscal policy

China will continue to implement its proactive fiscal policy to provide financial guarantees for building a modern socialist country in all respects, Minister of Finance Lan Fo’an said at a symposium on Thursday.

“In 2024, China will continue to implement its proactive fiscal policy by appropriately strengthening it to improve its quality and effectiveness and maintain an appropriate level of spending intensity,” said Lan.

In the face of serious and complicated situations in 2023, the Chinese economy has withstood the pressure, stabilized its scale and improved in quality, according to Lan.

Next year, the finance department will further strengthen policy support and fund guarantees, make overall use of taxes, transfer payments, government investment, financing guarantees and other policy tools, and strengthen the coordination of fiscal and monetary policies, as well as other policies.

(Cover via CFP)

Source(s): Xinhua News Agency

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