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By Archie Zhang and Wanxia Lin
BEIJING (MNI) - China should be "particularly cautious" when deciding on
increasing fiscal deficit, as the rising debt level may lead to either regional
or systemic financial crisis, Gao Peiyong, Vice President of the Chinese Academy
of Social Sciences, said on Saturday.
"The increase should be restrained" even if necessary, said Gao at the
China Capital Market Forum in Beijing.
The government will further cut its general expenditure to support
expansionary fiscal policy and the policies will have a stronger impact on the
economy than in 2019, Gao said.
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--MNI Beijing Bureau; +86 10 8532 5998; email: firstname.lastname@example.org