Balancing of budgets seen as key task

Total fiscal spending increased at a fast pace of 8.8% by August

China is taking measures to maintain balance of fiscal income and spending, to counter economic downside risks and tighten the budget management of local governments, according to the Ministry of Finance on Tuesday.

"From the current circumstance that we know, some provinces, cities and counties have implemented, or planned to implement budget adjustments" to achieve the budgeted income and offset negative impacts, such as slower profit growth in some key industries and industrial restructuring, according to a statement from the ministry.