China to Continue Pro-active Fiscal Policy: Finance Minister

Home>>Business

Last updated at: (Beijing Time) Wednesday, April 17, 2002

China to Continue Pro-active Fiscal Policy: Finance Minister

China will continue a pro-active fiscal policy this year in order to further boost its economy, says the country's Finance Minister Xiang Huaicheng.

DISCUSSION

CHINESE

SEND TO FRIEND

China to Continue Pro-active Fiscal Policy: Finance Minister

China will continue a pro-active fiscal policy this year in order to further boost its economy, says the country's Finance Minister Xiang Huaicheng.

Meanwhile, he said China will pay attention to side effects arising from the implementation of the policy, such as an increase in the fiscal deficit and a surplus of debts.

Positive results have been achieved since China adopted a pro- active fiscal policy in 1998 in order to avoid a negative impact on its economy from the 1997 Asian financial crisis, Xiang told a press conference in Beijing Tuesday.

He quoted statistics from the National Bureau of Statistics as saying that the policy has made contributions to the nation's economic growth over the years.

As a result of the implementation of the policy, China's economic growth rate increased by 1.5 percent over the previous year in the year 1998, 2 percent in 1999, 1.7 percent in 2000, and 1.8 percentage points in 2001.

The minister explained that China will continue the policy this year mainly because of the economic downturn in the United States which began last year.

He acknowledged that implementation of the policy would inevitably bring about an increase in the fiscal deficit and surplus of debts.

But this is what a country has to pay for economic development, he said, noting that the Chinese government attaches great importance to the solution of the problems.

Questions?Comments? Click here

China Proposes Global Framework of Financing for Development

Full Text of Finance Minister's Budget Report (I)

China's Economy to Grow Above Six Percent ( 4 Messages)

Chen Shui-bian Preaches Again "Taiwan Independence" ( 5 Messages)

Ins and Outs of a Young American's Roguery on Bus in China ( 62 Messages)

FM Spokeswoman: US Has Clarified its Stance on Taiwan Issue ( 16 Messages)

Kissinger Promises Zhu Further Efforts to Promote Bilateral Ties ( 5 Messages)