Fiscal policy targets tax, fee reductions

Analysts say moves will help offset headwinds, spur long-term growth

China's proactive fiscal policy this year will prioritize tax and fee cuts, and feature fiscal spending expansion that focuses on key areas serving high-quality growth, Minister of Finance Liu Kun said on Thursday.

Analysts said the moves will not only help offset this year's economic headwinds, but also spur long-term growth by revitalizing market entities and deepening economic restructuring.