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Xiang Huaicheng: Aggressive Financial Policy Resumes
Financial Minister Xiang Huaicheng disclosed recently that China would resume aggressive financial policy next half year, carefully realize that capital raised from national treasury bonds and its supervision and administration. Thus the capital will exert its utility. These actions would further facilitate the lasting steady economic growth.
Xiang said in the next half year, financial departments would strictly follow the investment orientations and stresses determined by State Council to assign and issue capital raised from national treasury bonds. Basically National debt capital will be mainly used on the projects in construction to make it operate as soon as possible instead of starting a new one. Technical reform projects will be carefully chosen, scientifically demonstrated and cautiously determined. On this aspect, technological advancement and industry upgrading will be emphasized. While the duplicate constructions in various forms should never be done.
The Financial Minister also emphasized that in the next half year, the implementing rage of department budget would be broadened. Respectively the budget subjects must be detailed. Ministry of Finance will roundly clear up the income and expenditure condition of budget unit and reasonably regulate the fixed person number and outlay quota standard of different departments. Besides government purchasing system would be underpin and the tax reform would be boosted.
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