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CHINA PRESS: China's fiscal deficit will remain below 3% of GDP in 2018 while
issuance of special local government bonds will expand, the 21st Century
Business Herald reported Wednesday, citing officials and analysts. Fiscal policy
needs to be proactive to offset the impact of corporate deleveraging and a
slowdown in household lending, the report said. Policy banks will continue to
support infrastructure investment and public-private partnership will play a
positive role. The issuance of special local government bonds rose to CNY800
billion this year from CNY400 billion in 2016. The growth of fixed asset
investment in 2018 is predicted to be in a range of 7% to 8%, even approaching
10% if local governments are active, compared with around an 8% increase this
year, the report said. (21st Century Business Herald)