xi's moments
Home | Finance

Chinese economic officials elaborate policies to boost growth

Xinhua | Updated: 2019-01-16 00:38

A worker oversees production at a plant of HBIS Group Hansteel Co in Handan in North China's Hebei province. [Photo/Xinhua]

BEIJING, Jan. 15 -- China's senior economic officials on Tuesday elaborated the country's policies to ensure sustained and healthy economic development.

Xu Hongcai, assistant minister at the Ministry of Finance, said the country will cut taxes and fees on a larger scale this year.

The government will unveil favorable tax policies to support small and micro businesses and deepen value-added tax reform, Xu told a press conference.

The country will move to lower burdens on the manufacturing sector as well as small and micro companies, moderately expand fiscal expenditure and increase financial input in areas including poverty alleviation, agriculture, technological innovation, environmental protection and efforts to improve people's livelihoods, Xu said.

Zhu Hexin, deputy governor of the People's Bank of China, said the central bank will offer sufficient financial support for the real economy sector, avoid a flood of liquidity and maintain a stable macro-leverage ratio.

Zhu said maintaining the prudent monetary policy does not mean the central bank cannot tweak its policies, which will be fine-tuned to make them more forward-looking, flexible and targeted when changes in the situation arise.

Lian Weiliang, deputy head of the National Development and Reform Commission, said the country will make investment more targeted and effective and refrain from resorting to massive economic stimulus.

The country will increase investment with a focus on construction and renovation, prioritizing areas including artificial intelligence, industrial Internet, Internet of Things, major infrastructure projects and technical transformation and equipment replacement in the manufacturing sector, Lian said at the press conference.

Global Edition
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349