At the same forum, Vice Finance Minister Xu Hongkai said China would also implement an active fiscal policy next year, setting a reasonable deficit ratio and the size of local government special bonds.
CCTV quoted Xu as saying that China would “appropriately expand the areas where special government bond funds can be invested and used as capital.”
The senior officials’ comments came a day after the Central Economic Action Conference, an agenda-setting meeting where Chinese leaders said they would focus on stabilizing the $17-trillion economy in 2023 and made policy adjustments to ensure the goals Will take it forward.