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Vice-Premier Urges Creation of Public Finance System
Vice-Premier Li Lanqing Thursday called for speeding up the establishment of a public finance system that can meet the needs of China's swift economic growth.
Li, also a member of the Standing Committee of the Political Bureau of the Chinese Communist Party (CPC) Central Committee, said at a national finance conference that building a stable, balanced and powerful national finance is necessary for guaranteeing the sound development of China's economy and various social undertakings.
He said that financial work should also focus on the fundamental interests of the broad masses of the people.
The vice-premier said the public finance system should guarantee the timely distribution of basic subsidies for laid-off workers of the State-owned enterprises, pensions for retirees and subsistence allowances for urban residents under the poverty line.
He said the priorities of the financial work is to guarantee necessary public expenditure, adjust the relationship of revenue and distribution, enhance social security, and promote fair and orderly market competition.
The vice-premier also called for continued efforts to ensure the implementation of the budget for the year.
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