China Urges Direct Fiscal Transfers to Achieve Growth Targets

China will improve the transfer of fiscal funding to local governments to ensure this year's growth targets are achieved and that macro policies are consistently carried out, according to a statement following the weekly State Council meeting chaired by Premier Li Keqiang. China will further expand the use of direct funding to cover people's livelihood such as teachers' salaries and ensure operations at the grassroots level, according to the statement. As of Sept. 30, governments at county levels had received CNY1.57 trillion out of CNY1.7 trillion allocated, which was used to support employment, small businesses and to alleviate poverty, the government said.