China Plans More Aggressive Fiscal Policy For Next Year

According to PANews, China's Ministry of Finance, led by Party Secretary and Minister Lan Fo'an, held a meeting to discuss the implementation of a more aggressive fiscal policy for the coming year. This decision aligns with the directives from the Central Economic Work Conference, aiming to ensure the fiscal policy remains robust and effective. The strategy reflects the central government's comprehensive assessment of the current economic landscape, balancing high-quality development goals with the challenges and opportunities at hand. The meeting emphasized the need for extraordinary counter-cyclical adjustments and enhanced macroeconomic regulation. The Ministry of Finance is tasked with accurately understanding the overall requirements and policy directions for next year's economic and fiscal work. This includes increasing the fiscal deficit ratio and issuing more ultra-long-term special government bonds. These measures are intended to support key projects and expand the implementation of new policies. Additionally, the ministry plans to increase the issuance and use of local government special bonds. This will involve broadening the scope of investment areas and expanding the range of projects that can use these bonds as capital. The approach aims to strengthen the financial support for infrastructure and other critical sectors, ensuring sustained economic growth and stability.