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Policymakers suggest continuation of steps to keep costs at bay, control risks

China: Fiscal deficit ratio pruning likely in 2021 Policymakers are considering the possibility of moderately bringing down the fiscal deficit ratio and reducing the local government special bond quota in 2021, to further consolidate the sustainability of fiscal measures and bolster economic activity, experts said. Sustainable support from fiscal measures, especially to increase government-led investment, will hinge largely on the effective budget performance, which will concentrate funds in important areas, along with taxes, fee cuts and reforms of the local government’s tax system, expert...

Fiscal deficit ratio pruning likely in 2021 By CHEN JIA | China Daily | Updated: 2020-12-22 09:14 Share CLOSE An employee of Lin'an Rural Commercial Bank counts banknotes at the bank's branch in Xitianmu area in Hangzhou, capital of Zhejiang province, on Feb 25. [Photo by Hu Jianhuan For China Daily] Policymakers plan reductions in local government special bond quotas Policymakers are considering the possibility of moderately bringing down the fiscal deficit ratio and reducing the local government special bond quota in 2021, to furthe...

Policymakers plan reductions in local government special bond quotas Policymakers are considering the possibility of moderately bringing down the fiscal deficit ratio and reducing the local government special bond quota in 2021, to further consolidate the sustainability of fiscal measures and bolster economic activity, experts said. Sustainable support from fiscal measures, especially to increase government-led investment, will hinge largely on the effective budget performance, which will concentrate funds in important areas, along with taxes, fee cuts and reforms of the local government's ta...