China To Increase Macro Policy Intensity, Plan New Tools-Fin Min

China will increase macro policy intensity, and plan incremental policy tools ahead, so to effectively manage risks and keep the economy operating within a reasonable range, the Securities Times reported citing the Minister of Finance Liu Kun speaking to the National People’s Congress Standing Committee on Tuesday. China is facing growing pressure to balance fiscal revenue and expenditure, requiring hard work to complete the budget target this year, Liu was cited as saying. The national general public budget revenue in the first five months was CNY8.67 trillion, falling 10.1% y/y, while the budget expenditure was CNY9.91 trillion, rising 5.9% y/y, the newspaper said.