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China's Fiscal Policy for Economic Recovery

China's economic recovery is being bolstered by a multi-pronged fiscal policy involving increased government spending, special bonds, tax cuts, and debt relief measures.

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China

EconomyChinaInvestmentFinancePolicyDebt

Ministry Of Finance (Mof)Ministry Of Commerce (Moc)

Lan Fo'anLi Gang

What measures are in place to stimulate consumer spending in China?: A large-scale equipment upgrade and consumer goods trade-in program, injected with 300 billion yuan, aims to boost consumption. As of October 24, over 1.5 million applications for scrappage incentives have been received.
What methods is China using to enhance its proactive fiscal policy?: China's proactive fiscal policy uses various tools like special treasury bonds and tax reductions to boost economic recovery. About 700 billion yuan is earmarked for investment in key areas such as innovation and infrastructure.
What major debt relief measure has recently been introduced in China?: Minister of Finance Lan Fo'an announced a significant debt alleviation measure to reduce pressure on local governments and boost business confidence. This is considered the strongest such measure in recent years.
What tax and fee policies are being implemented to support the economy?: Tax and fee cuts exceeding 1.8 trillion yuan support innovation and manufacturing. A package of targeted fiscal measures, including increasing the debt ceiling for local governments, aims to further stimulate the economy.
How is China allocating funds from special-purpose bonds and ultra-long treasury bonds?: The 3.9 trillion yuan in special-purpose bonds for local governments supports over 30,000 projects. An additional 700 billion yuan from ultra-long special treasury bonds funds major national strategies and security.

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