China's fiscal policy to be more sustainable in 2021
3 years, 9 months ago

China's fiscal policy to be more sustainable in 2021

China Daily  

China's fiscal policy will remain proactive but to be more sustainable this year, focusing on promoting its efficiency and quality. China's fiscal policy will remain proactive but to be more sustainable this year, focusing on promoting its efficiency and quality, reflecting a "people-centered" principle, Finance Minister Liu Kun, said at a news conference on Friday. According to the finance minister, the central government's transfer payment to local will increase this year, to more than 8.3 trillion yuan, and these funds will be saved from controlling the central government's spending. Now the tax income to GDP ratio has declined to around 15.2 percent, down from 18.1 percent in 2015, which is the lowest among the world's major economies, Liu highlighted at the news conference.

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