Instead of expanding the fiscal.........>

CHINA PRESS: Instead of expanding the fiscal deficit by cutting taxes and fees,

the government should stick with their 3% deficit-to-GDP ratio in 2019, but

instead reduce spending to make room for tax cuts, the 21st Century Business

Herald said in a commentary published Wednesday.

- According to the paper, the thinking behind recent calls for an increased

deficit is to underpin growth, but such thinking has helped fuel the build up in

local government debt and excessive leverage ratio at SOEs.

- The government should focus away from debt-driven economic growth and look to

link boosting spending with fiscal reform instead, the newspaper said.

(Link to the story: https://bit.ly/2FzEArt)