Chinese Minister of Finance Liu Kun reiterated that it is planned to increase fiscal policies with fiscal expenditure and active efforts to help China's economic recovery, and promise to prevent systemic risks.
Xinhua News Agency published an interview with Liu Kun on Tuesday (January 3).In the interview, Liu Kun said frankly that the foundation of China's economic recovery is not firm, and the demand for shrinking, supply impact, and expected weakening triple pressure is still greater.In response to these risks and challenges, the Chinese government must increase financial macro -control, optimize policy tool portfolio, and effectively support high -quality development, ensure financial sustainable and controllable local government debt risks.
He said that China needs to strengthen the intensity of fiscal expenditure, coordinate policy tools such as fiscal revenue, fiscal deficit, discount discount, etc., and appropriately expand the scale of fiscal expenditure;Arrange the scale of special bonds for local governments, appropriately expand investment in the area and use it as capital, and continue to form investment pull -forces; finally, to promote financial sinking to the force, continue to increase the central government's transfer payment, to difficult areas and in poor areas in difficult areas.Sillery, and the bottom line of the "three guarantees" at the grassroots level.
Liu Kun also promised to strengthen government bond management, open "front doors", block "back doors", and firmly keep the bottom line that does not have systemic risks.
He said, as of now, the proportion of Chinese government debt balances accounts for the national GDP (GDP), lower than the 60%cordon that connects internationally, and lower than the level of major market economy countries and emerging market countries.The risk is generally controllable.
In addition, the Chinese government will also strengthen the regulatory management of local government financing platform companies, continuously regulate financing management, and strictly prohibit new financing platform companies; standardize financing information disclosure, strictly prohibit linked credit with local governments; properly handle the financing platform for financing platformsThe company's debt and assets are stripped off their government financing functions to prevent local state -owned enterprises and public institutions "platform".
