FX.co ★ China to Strengthen Fiscal Policy

China is poised to bolster its fiscal policy over the forthcoming five years, as outlined by the nation’s Finance Minister, Lan Foan, in a recent interview with Xinhua News Agency. This was reported by Reuters. Minister Lan emphasized China's commitment to enhancing both counter-cyclical and cross-cyclical regulatory measures. He indicated that adjustments will be made to the deficit-to-GDP ratio and government borrowing levels in response to changing circumstances. In support of ongoing economic and social development, China plans to leverage a variety of fiscal tools, including budgeting, taxation, government bonds, and transfer payments. On the global stage, Lan noted, the external environment is characterized by volatility and instability, with increasing complexity and intensity in major-power rivalries. He refrained from identifying specific nations or mentioning China's trade tensions with the United States.