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China needs more active fiscal policy to offset the increasing pressure on its economy, said Finance Minister Liu Kun in an article published on the official People’s Daily on Thursday, a week ahead of the annual session of the National People’s Congress (NPC), China's top legislature.
“At present, China’s economic and social development is still facing great uncertainties, and downward pressure on the economy is still rising,” Liu said. “A more active fiscal policy is a practical need to hedge the downward pressure.”
Liu said more tax cuts would help companies . . .
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