Chinese vice premier calls for tightened controls on fiscal expenditure

Chinese Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, speaks at a symposium at the Ministry of Finance in Beijing, capital of China, Jan. 2, 2020. (Xinhua/Ding Haitao)

BEIJING, Jan. 2 (Xinhua) -- Chinese Vice Premier Han Zheng has called for tightened controls on fiscal expenditure and efforts to consolidate the progress of tax and fee cuts.

More efforts should be made to improve the quality and efficiency of proactive fiscal policies and more attention should be paid to structural adjustments, Han, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said Thursday at a symposium at the Ministry of Finance.

Fiscal expenditure should be decided based on fiscal revenue and the management of the budget performance evaluation should be strengthened, Han urged.

Expenditure in key areas should be secured and the transfer payments to local governments, especially areas with difficult conditions should be increased, according to the vice premier.

Han also stressed the need to actively forestall and defuse local governments' debt risks and make good use of the special local government bonds.