MNI BRIEF: China Has Sufficient Macro Policy Space - Official

China has considerable room for monetary and fiscal policy amid low prices and moderate central government debt levels, the state-run China Central Television reported citing Han Wenxiu, executive deputy director at the Office of the Central Financial and Economic Affairs Commission.

China will strengthen macroeconomic control to maintain stability, said Han during an annual conference held by the China Center for International Economic Exchanges on Wednesday. Authorities should adopt more policies that are conducive to stabilising expectations, growth and employment, while staying cautious about contractionary and suppressive measures, Han continued.

It is necessary to arrange appropriate-sized deficits, local-government special bonds, central budget investment, and central transfer payments and implement structural tax, and fee reductions, said Han, following the conclusion of the Central Economic Work Conference on Tuesday. He said the intensity of proactive fiscal policy should increase appropriately to optimise the fiscal spending structure and improve the efficiency of fiscal funds.