China says it will boost fiscal spending in 2023 appropriately

The fiscal policy will be stepped up and become more efficient next year, the ministry said after a meeting

Staff Writer, Reuters News

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BEIJING - China will boost fiscal expenditures appropriately in 2023 to support the economy, focusing on tech innovation and key strategic sectors, the finance ministry said on Thursday.

The fiscal policy will be stepped up and become more efficient next year, the ministry said after a meeting. China will improve its policy on tax and fee cuts next year and will optimise its policy tools such as fiscal deficit, special bonds and interest subsidies, the ministry said.

(Reporting by Beijing newsroom and Kevin Yao; Editing by Angus MacSwan)

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