China to maintain proactive fiscal, prudent monetary policies

BEIJING - China will continue to implement a proactive fiscal policy and a prudent monetary policy, according to a government work report to be delivered by Premier Li Keqiang at the opening of the annual parliamentary session on Wednesday.

The report said the government budget deficit for this year is projected to be 1.35 trillion yuan (220 billion U.S. dollars), an increase of 150 billion yuan over last year.

The broad money supply (M2) is forecast to grow by around 13 percent, the same as last year's projection.