China Finance Minister: Proactive Fiscal Policy

According to the finance minister Xie Xuren, China will spend around 13.8 trillion yuan, or over US$2 trillion, on projects concerning people's wellbeings. They include education, healthcare, social security, employment, affordable housing, culture and rural incomes. That budget is nearly 20 percent higher than last year's.

Xie said, "In the future, as well as at the current period, we will make more efforts to ensure and improve people's wellbeings. This target will be a major focus of fiscal policy, and we will be proactive about it, within our ability. "

Xie said that China will continue to implement its proactive fiscal policy this year, to balance economic growth, promote economic restructuring and manage inflation.

"For this year's fiscal policy, 'proactive' is the key word. On one hand, we will keep the fiscal policy’s stability and continuity; on the other hand, we will improve its flexibility and function in terms of macro-control," said Xie.

According to the finance minister Xie Xuren, China will spend around 13.8 trillion yuan, or over US$2 trillion, on projects concerning people's wellbeings.