Page 2 - Fiscal Sciences News Today

Continued support for market players, in the form of local governments' optimized tax and fee cuts, mitigation of businesses' financial burdens and focus on the digital economy, shows that fiscal policy will continue to firmly support the healthy development of the market and rev up growth engines this year, experts said.

China is likely to place more emphasis on economic growth in its development agenda for the next year and beyond; the country is also expected to introduce a fresh macroeconomic policy mix to revive business and boost consumption in the upcoming months, economists said on Wednesday.

Beijing should focus on revitalizing its beleaguered private sector to stabilize economic recovery, Chinese economists and policy advisers say.

China should strive for an average economic growth rate of around 5 percent for 2022 and 2023, as the countrys potential growth level is probably between 5 percent and 5.5 percent, Liu Shijin, vice chairman of the Committee on Economic Affairs of the National Committee of the Chinese Peoples Political Consultative Conference, said on Friday.

* Since the beginning of the year, China has effectively coordinated COVID-19 response with economic and social development, with positive results seen and new achievements made on the two fronts.

China is striving to consolidate the growth momentum and aim for the best possible results in the se

China should strengthen both countercyclical and cross-cyclical adjustments to promote steady growth this year, said economists.

China should take more measures to unleash the growth potential of digital transformation and technological innovation in the second half of the year to promote a sustained economic recovery, policy advisers said on Monday.

China is beefing up support for micro, small and medium-sized enterprises (MSMEs) by enacting measures to alleviate the financial burden brought on by outbreaks of COVID-19.

China will step up its efforts on both the fiscal and monetary fronts to expedite delivery of its freshly unveiled economic package for recovery, to revitalize the market and ensure stable overall economic performance, officials said on Thursday.