Hou Yongzhi, director-general of the Department of Development Strategy and Regional Economy of the Development Research Center of the State Council, attended the fourth Forum on China's Economic Outlook in Beijing on Dec 21, 2012.

He gave a speech at the forum on fiscal and taxation reform in China. Hou said that by carrying out reform on fiscal and taxation systems and changing the evaluation system on local governments, it is possible to develop the local economy in a more "rational" way.