China aims to moderately strengthen fiscal policy next year

"China's proactive fiscal policy should be moderately strengthened with improved quality and efficiency next year", said Finance Minister Lan Fo'an.

In a report delivered on Thursday in Beijing, Lan highlighted the importance of maintaining an appropriate level of spending intensity while making fiscal policy more targeted.

He said the ministry would further step up policy support. It will coordinate the use of policy tools such as taxation, transfer payments, government investment, and financing guaranty.

More efforts will also be made to enhance coordination between fiscal, monetary, employment, industrial, regional, technology, and environmental protection policies.

Looking ahead to next year, Lan said "The opportunities facing the Chinese economy outweigh the challenges, and favorable conditions outweigh unfavorable ones".

He said that China's economy is still highly resilient and has great potential and vitality, and the country possesses many advantages.

"We have full confidence, capability, and conditions to achieve the annual goals for economic and social development this year, laying a solid foundation for next year's development," he said.