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Proactive Fiscal Policy, Great Impetus in Vitalizing National Economy: Official
China will continue to carry out a proactive fiscal policy, and will not shift its fiscal emphasis from stimulating domestic demand to restructuring supply and demand until its economic base is strong enough.
China's Finance Minister Xiang Huaicheng made the above remarks Sunday afternoon while delivering a speech at the ongoing session of China Development Forum 2001, which opened on Sunday.
Xiang said that in order to enhance the sustained economic development, China will continue to uphold its' proactive fiscal policy in the years to come.
As for China's fiscal deficit and enlarging debts, Xiang pointed out that in the long run, the current debt level is still bearable, but the government will readjust the debt term, lower the cost of raising funds and set up a debt alarm system, in a bid to effectively keep away financial risks.
"At present, the Chinese economy is growing steadily, enjoying abundant agricultural and industrial products and capital goods, as well as the price stability. Therefore, a proactive fiscal policy and a proper increase in issuing treasury bonds will not lead to inflation," Xiang noted.
Years of practice in China have proved the correctness that the government should adopt a proper fiscal policy in order to promote a sustained economic growth under the wave of economic globalization, Xiang concluded.
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