China to appropriately enhance intensity of proactive fiscal policy

China will appropriately enhance the intensity of the proactive fiscal policy, the finance minister said on Wednesday.

China will continue to implement a proactive fiscal policy and a prudent monetary policy this year, and improve the quality and effectiveness of its fiscal policy, Minister of Finance Lan Fo'an told a press conference held on the sidelines of the ongoing session of the national legislature.

Work will be done to appropriately expand fiscal expenditure to ensure sufficient funding for major national strategic tasks, markedly increase government bonds to promote social investment, and continue structural tax and fee reduction policies with priority given to supporting scientific and technological innovation and the development of the manufacturing sector, Lan said.

Governments at all levels must keep their belts tightened, improve the structure of expenditures, and ensure that fiscal funds are used where they are needed most and to the best effect.

Policies related to tax and fee, special fund and government bond will be implemented in a coordinated manner and in stronger combination with monetary, employment and industry policies, the minister added.