China to Maintain Proactive Fiscal Policy Despite Lower Deficit Target, Finance Minister Says
China will retain a proactive fiscal policy in 2018 despite a lower targeted ratio of deficit to gross domestic product (GDP), Finance Minister Xiao Jie said Wednesday.
China on Monday cut its deficit-to-GDP ratio for 2018 to 2.6% from 3% in 2017, surprising some observers with the first such reduction since 2013. However, China has kept the value of the projected shortfall in 2018 unchanged at 2.38 trillion yuan ($376.0 billion).
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