Policy digest

Country to rectify budget implementation problems

The executive meeting of the State Council, China's Cabinet, on Wednesday decided to rectify problems found in an auditing inspection on budget implementation last year and push forward major projects across the country. A statement released after the meeting, presided over by Premier Li Keqiang, said better management of public funds is important to the implementation of a proactive fiscal policy to promote steady economic growth and improve people's lives. In the next step, malpractices in public fund expenditure will be rectified one by one. Reform measures such as administrative streamlining and value-added tax should be further carried out to serve projects in cutting overcapacities, poverty relief and environmental protection. Meanwhile, supervision will be strengthened in key areas to prevent risks when managing public funds and healthcare insurance funds. A long-term mechanism will be established to curb actions leading to any misbehavior in the rectification campaign. The meeting required rectification outcomes to be submitted to the State Council by the end of October.

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