久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Right Track

Proactive fiscal policy to be key economic priority, say experts

By Chen Jia | China Daily | Updated: 2019-12-19 08:59
Share
Share - WeChat
Implementing a proactive fiscal policy will be one of the top six tasks for the central government in its 2020 economic agenda, experts said. [Photo/IC]

Implementing a proactive fiscal policy will be one of the top six tasks for the central government in its 2020 economic agenda, experts said.

The thrust of the fiscal policy, however, should not be confined to supporting economic growth through investments, but instead focus on boosting the overall quality and efficiency, guaranteeing salary payments, ensuring administrative operations in local government departments and boost people's livelihoods, said the experts while sharing their insights on the recently concluded annual Economic Work Conference.

The basic tone of next year's policies would be to maintain stability, meaning the key economic indicators including GDP growth, employment rate, inflation and other indexes "need to avoid big ups and downs", said Liu Wei, president of Renmin University of China and a member of the central bank's monetary policy committee.

China's policies to counter an economic slowdown have already started taking effect, as seen in the average 9.4 percent annual GDP growth during the past four decades with very moderate volatility, Liu said at a forum held by the National School of Development of Peking University on Saturday.

"Stability is a key gauge to assess the quality of economic growth, other than only focusing on the speed," he said.

To achieve the targets, a "too-large scale" of new tax cuts is not suitable for next year and policymakers may instead focus on implementing the existing tax cut policies, said Chen Changsheng, director-general of the department of macroeconomic research under the Development Research Center of the State Council.

Fiscal deficit is expected to expand next year as strong support from the local government special bonds will help stabilize infrastructure investment. But the funds should be used more for the new types of infrastructure projects, instead of injecting too much into traditional projects, said Chen, without explaining the definition of "new infrastructure".

A statement issued after the three-day policy tone-setting conference had said that proactive fiscal policies should focus on structural adjustments, while government expenditure for general administrative purposes needs to be reduced.

The high-level economic conference stressed that fiscal policy should work in conjunction with the prudent monetary policy, and coordinate with consumption, investment, employment, industrial and regional policies.

The policymakers have emphasized that macroeconomic policies should lead capital into areas of advanced manufacturing, as well as in projects that can improve people's livelihood and infrastructure construction. Both industrial production and consumption should be upgraded, the statement said.

In the face of some uncertainties, especially when the world is still undergoing in-depth adjustments due to the global financial crisis, the basic function of fiscal policy should be to "inject certainties" and reduce the level of public risk, so that the cost of production and living can be lowered, said Liu Shangxi, head of the Chinese Academy of Fiscal Sciences, a research institute under the Ministry of Finance, during the Saturday forum.

The Ministry of Finance said on Tuesday that from January to November, the country's total tax income was 14.97 trillion yuan ($2.14 trillion), with the tax income declining by about 3 percent on average in October and November.

Individual income tax collections fell by 26.8 percent as tax reforms changed the taxation threshold and the tax rates. Value-added tax on imported goods and consumption tax decreased by 8.7 percent during the same period, according to official data.

The central government's fiscal revenue increased by 3.8 percent to 17.90 trillion yuan in the first 11 months, much slower than the growth of 6.5 percent in the same period last year, mainly due to the reduction of taxes and fees. Fiscal spending rose by 7.7 percent year-on-year to 20.65 trillion yuan, up by 6.8 percent over a year earlier, the ministry said.

Falling land prices in some cities and lower income from land sales could be headwinds for China's growth in 2020, said Lu Ting, chief economist of Nomura Securities.

He said the government may need to increase the fiscal deficit and increase the quota for local government special bonds next year to deliver a "truly expansionary fiscal policy".

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 成人的天堂 | 美女很黄很黄 | 国产在线精品一区二区三区 | 精品国产_亚洲人成在线高清 | 国产精品免费观看视频播放 | 加勒比一区二区 | 91中文字幕网 | 美女张开腿让男人操 | 亚洲精品国产美女在线观看 | 亚洲黄色美女视频 | 国产在线a | 亚洲综合伦理一区 | 亚洲一区免费在线观看 | 91久久亚洲精品一区二区 | 欧美野外性k8播放性迷宫 | 国产区香蕉精品系列在线观看不卡 | 久久99在线 | 日本专区| 国产精品a人片在线观看 | 美女久草 | 韩国精品视频在线观看 | 美女双腿打开让男人桶爽网站 | 久久99国产亚洲精品观看 | 国产一级二级三级毛片 | 免费国产在线观看 | 国产成在线观看免费视频成本人 | 手机看片日韩日韩韩 | 无遮挡一级毛片私人影院 | 欧美特级一级毛片 | 国产a一级毛片含羞草传媒 国产a自拍 | 欧美成人私人视频88在线观看 | 美国特级毛片 | 国产香蕉尹人综合在线观 | 久久久久久久久久久大尺度免费视频 | 国产成人久久一区二区三区 | 欧美jizzhd精品欧美 | 国产亚洲精品久久久久久久 | shkd在线观看 | 欧美精品亚洲 | 亚洲99在线的 | 欧美一级免费看 |