Targets in work list to be met
Print Edition
CHINA’S State Council yesterday urged all ministries, commissions and bureaus under its control to meet the targets set in the annual government work report by continuing reforms and maintaining stable economic growth.
“China will stick to the proactive fiscal policy stance and the appropriate prudent monetary policy stance,” the State Council said in a statement.
The government has decided to allow the fiscal deficit to increase by 270 billion yuan (US$43.5 billion) from last year to 1.62 trillion yuan this year. It advised that governments at all levels should also manage debt risks well.
M2, the broadest measure of money supply, is expected to increase 12 percent this year to ensure that there is ample liquidity in the market.
“The growth of money supply can be faster ... based on real needs,” the statement said. “We should strike the balance between stabilizing the economy and optimizing its structure.”
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