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China To Increase Fiscal Expenditure In 2024

CHINA PRESS
MNI (Singapore)

China will ensure larger fiscal spending in 2024 to stimulate domestic demand better, mainly by targeting a certain deficit size and transferring some funds from the budget stabilisation fund, said Finance Minister Lan Foan in an interview. China will continue to arrange appropriate scale of local government special bonds to drive investment, under the principle of keeping the government’s overall leverage ratio stable, Lan noted. The central government will maintain a certain scale of transfer payments and tilt toward underdeveloped areas, and the Ministry will implement structural tax and fee cuts to mainly support technological innovation and manufacturing development. (Source: People’s Daily)

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