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China to continue active fiscal policy for growth
(Xinhua)
Updated: 2009-03-04 13:50 China will adhere to an active fiscal policy in 2009 to weather the global financial crisis and maintain a stable and relatively fast economic growth, a parliament spokesman said Wednesday.
The country would expand government investment in 2009, Li said. Such investment would focus on infrastructure facilities for agricultural production and in rural areas, and on government-subsidized housing projects, education, medical care and health sectors, he said.
He said the government would promote tax reforms and structural tax reductions to ease tax burdens of firms and residents, in a move to encourage firms to invest and residents to consume. The government would also work to increase income of low-income families to spur consumer spending, Li added. Li said the government would pour more money into projects that could improve people's livelihood, such as increasing subsidizes for farmers, agricultural production and in rural areas. The government would also strive to achieve economic restructuring and transition of growth mode by promoting technological innovation, energy conservation and pollution reduction, Li said. "At such a time to act against the global financial crisis, we should have full confidence to turn challenges into opportunities, " he said, adding, "we believe we will succeed." (For more biz stories, please visit Industries)
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