Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Sept. 11 (Xinhua) — China's fiscal policy has been more proactive this year, while the budget execution situation and the functioning of the financial system have remained generally stable, Finance Minister Lan Fo'an said.
On Wednesday, at the request of the State Council of the People's Republic of China, Lan Fo'an delivered a report on the implementation of the 2025 national budget since the beginning of this year at the 17th session of the Standing Committee of the 14th National People's Congress (NPC Standing Committee).
The Finance Minister gave several examples illustrating how the country is implementing a more active fiscal policy in practice, including the comprehensive use of fiscal policy instruments to support a special campaign to stimulate consumption, subsidizing interest rates on individual consumer loans and loans received by business entities in the service sector, and introducing a program to help older people who have lost the ability to care for themselves cover the costs of care services.
In addition, the coverage of subsidies for the disposal of old cars and replacement of household appliances has been expanded, Lan Fo'an said, noting that the issuance of super-long-term special government bonds in 2025 began a month earlier than the previous year.
Going forward, China will effectively and fully utilize its more proactive fiscal policy and continuously improve its toolbox, the minister said. He pledged to maintain policy consistency and stability while being more flexible and prudent to counter various uncertainties with the certainty of high-quality development. -0-
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