China’s cabinet pledges direct, targeted policy to support economy, to keep liquidity reasonably ample

 

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China will make further plans to increase fiscal funds to directly benefit the real economy, in particular small businesses, in a bid to enhance the foundation for economic recovery, according to the State Council meeting chaired by Premier Li Keqiang on Monday.

As of early August, among the 2 trillion yuan in increased fiscal funds approved for the year, 300 billion yuan has been used for tax and fee cuts, it said. Of the 1.7 trillion yuan under the special transfer payment system, apart from the reserved proportion of the proceeds of the special treasury bonds . . .

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