Jan 04, 2023 12:07 PM

ECONOMY

China’s Finance Minister Reiterates Plan for Fiscal Expansion

Top leaders have vowed to maintain a “necessary” scale of public spending in 2023, but with local finances under stress the scope for further fiscal stimulus is shrinking. Photo: Bloomberg

Top leaders have vowed to maintain a “necessary” scale of public spending in 2023, but with local finances under stress the scope for further fiscal stimulus is shrinking. Photo: Bloomberg

(Bloomberg) — China’s Finance Minister Liu Kun reiterated plans to appropriately expand fiscal spending to aid economic recovery, while pledging to prevent systemic risks.

Liu said, according to an interview with the official Xinhua News Agency on Tuesday, that China’s recovery is still not solid. He cited risks including a contraction in demand and disruptions to supply.

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