Xinhuanet

China's fiscal deficit target proactive, prudent: minister

Source: Xinhua 2017-03-07 11:55:34

BEIJING, March 7 (Xinhua) -- China's fiscal deficit target this year is proactive and prudent, Finance Minister Xiao Jie said Tuesday.

Xiao made the remarks at a press conference on the sidelines of the annual parliamentary session.

Fiscal deficit this year is projected to be 3 percent of GDP, or 2.38 trillion yuan (about 345 billion U.S. dollars),according to a government work report delivered by Premier Li Keqiang on Sunday.

The deficit-to-GDP ratio will stay unchanged from last year, with the fiscal deficit figure increasing by 200 billion yuan to meet the demands for tax cuts and expenditure in key areas such as supply-side structural reform, according to the minister.

"China's government debt ratio is relatively low compared with other countries, which leaves enough leeway for further adjustment," he said, adding that the decision on further fiscal deficit expansion depends on the future demand and debt-paying ability of the government.

"The fundamentals for China's long-term growth have not changed," he said, voicing confidence that the country's expanding economy will serve as the basic support for the government solvency.

 
China's fiscal deficit target proactive, prudent: minister
                 Source: Xinhua | 2017-03-07 11:55:34 | Editor: huaxia

BEIJING, March 7 (Xinhua) -- China's fiscal deficit target this year is proactive and prudent, Finance Minister Xiao Jie said Tuesday.

Xiao made the remarks at a press conference on the sidelines of the annual parliamentary session.

Fiscal deficit this year is projected to be 3 percent of GDP, or 2.38 trillion yuan (about 345 billion U.S. dollars),according to a government work report delivered by Premier Li Keqiang on Sunday.

The deficit-to-GDP ratio will stay unchanged from last year, with the fiscal deficit figure increasing by 200 billion yuan to meet the demands for tax cuts and expenditure in key areas such as supply-side structural reform, according to the minister.

"China's government debt ratio is relatively low compared with other countries, which leaves enough leeway for further adjustment," he said, adding that the decision on further fiscal deficit expansion depends on the future demand and debt-paying ability of the government.

"The fundamentals for China's long-term growth have not changed," he said, voicing confidence that the country's expanding economy will serve as the basic support for the government solvency.

分享
China's growth target achievable, favorable for global economy: UAE official
China eyes tourism infrastructure upgrades to spur economy
Roundup: China's economy continues to perform strongly: media
China pledges to transform, upgrade real economy through innovation
Chinese economy to tide over global, domestic challenges: gov't work report
Plenary meeting of 12th NPC deputies from Ningxia opens to media
Plenary meeting of 12th NPC deputies from Ningxia opens to media
Finance minister meets press for 5th session of 12th NPC
Finance minister meets press for 5th session of 12th NPC
CPPCC members attend press conference on promoting economic growth
CPPCC members attend press conference on promoting economic growth
Plenary meeting of 12th NPC deputies from Guizhou opens to media
Plenary meeting of 12th NPC deputies from Guizhou opens to media
Syrian maintenance workers observe water flow at Ain al-Fijah water spring
Syrian maintenance workers observe water flow at Ain al-Fijah water spring
WFP spokeswoman in Jordan praises China's help for Syrian refugees
WFP spokeswoman in Jordan praises China's help for Syrian refugees
Egypt opens Gaza-Rafah crossing for 3 days
Egypt opens Gaza-Rafah crossing for 3 days
Southern India states to face severe drought
Southern India states to face severe drought
Why are pandas black and white? Mystery solved! Malaysia bans all DPRK embassy staff from leaving the country Feature: Shout for "Stop THAAD" echoes non-stop rally in S. Korean little, peaceful village Roundup: Clashes in Myanmar's Kokang region delay peace process Interview: UK can share China's B&R Initiative to build prosperity Chinese commerce chamber concerned with brewing changes on German investment law Malaysia, DPRK expel ambassadors amid diplomatic row Plenary meeting of 12th NPC deputies from Ningxia opens to media UN chief slams firing of ballistic missiles by DPRK Australia's national broadcaster to cut staff by hundreds
Indonesia Fashion Week 2017 opens in Jakarta
Indonesia Fashion Week 2017 opens in Jakarta
Highlights of Miss Universe 2016
Highlights of Miss Universe 2016
Photos of the year: Selected Xinhua domestic pics in 2016
Photos of the year: Selected Xinhua domestic pics in 2016
Xinhua selects world news photos of 2016
Xinhua selects world news photos of 2016
Highlights of Chinese Air Force in 2016
Highlights of Chinese Air Force in 2016
Eye feast given by nature in 2016
Eye feast given by nature in 2016
23 panda cubs send New Year greetings
23 panda cubs send New Year greetings
Miss Universe red carpet event held in the Philippines
Miss Universe red carpet event held in the Philippines
Back to Top Close
010020070750000000000000011100001361089511