MNI BRIEF: China's Third Plenum Eye's Deeper Financial Reform
China will deepen fiscal and tax reforms, as well as financial systems, strengthen the consistency of macro policies, while “unswervingly achieving” the annual economic and social development goals, according to a statement following the conclusion of the Communist Part’s Third Plenum on Thursday.
It is necessary to improve the macro-control system, coordinate national strategic planning with policies, as well as developments among regions, the statement said. (SEE MNI EM: China Likely To Ease Local Fiscal Pressure By Reforms)
Authorities will expand domestic demand, develop “new quality productive forces” in accordance with local conditions, and accelerate the cultivation of new drivers of foreign trade, alongside with measures to prevent and resolve risks in real estate, local government debt, and small and medium-sized financial institutions, the statement added.