MNI China Press Digest, Feb 17: Fiscal, Monetary, Customs

     BEIJING (MNI) - The following lists highlights from Chinese press reports

on Monday:

     China's fiscal operations are in a "tight balance" between reduced revenue

and the need for increased spending, according to an article by the Minister of

Finance Liu Kun. Writing in Qiushi, a publication of the Central Committee of

the Communist Party of China, Liu said that in the current environment simply

expanding the scale of fiscal spending was not enough to support a proactive

fiscal policy. The government must persist in optimizing spending structures and

improve the direction, accuracy, and effectiveness of policies and funds to

ensure sustainable fiscal and economic operations, Liu said. 

     China's monetary policy should focus more on GDP growth due to the impact

of the coronavirus, according to the Economic Information Daily. In a commentary

published on the front page, the Daily said the central government should also

consider increasing the deficit to GDP ratio, and increasing quotas of

special-purpose bonds for local governments.

     Chinese Customs will accelerate the inspection of imported production

equipment and raw materials to support the resumption of domestic production,

according to a statement on its website. Customs will also promote the

importation of agricultural products and food by boosting import sources, as

well as supporting enterprises to expand exports. The measures are aimed at

easing the impact of the coronavirus epidemic on the economy. 

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI Beijing Bureau; +86 (10) 8532-5998; email: archie.zhang@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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