November 08, 2024 09:43 GMT
MNI BRIEF: China To Boost Countercyclical Effort - Minister
MNI (BEIJING) - China will increase its fiscal policy intensity in line with next year’s economic and social development goals, Finance Minister Lan Fo’an told reporters on Friday.
The country will utilise the deficit space, increase the issuance of local government special bonds and broaden its scope of usage, said Lan.
China will also continue to issue ultra-long-term special treasuries to support the country’s major strategic projects, and increase support for equipment updates and consumer trade-in programmes, he said, adding that the central government will boost the scale of transfer payments to local governments.
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