China's Ministry of Finance is actively formulating policies for the upcoming year in alignment with the country's economic and social development goals, according to the minister.
At a press conference in Beijing, Lan Fo'an stated that the Ministry is focusing on strengthening counter-cyclical adjustments.
"Currently, relevant taxation policies aimed at supporting the healthy development of the real estate market have been submitted for approval according to procedures and will be implemented soon. The replacement of hidden debt will commence immediately. The issuance of special treasury bonds to replenish the core tier-one capital of large state-owned commercial banks is accelerating. The Ministry of Finance is cooperating with relevant departments to study and formulate the specifics of policies regarding special-purpose bonds for revitalizing idle land, increasing land reserves, and acquiring commercial housing to convert into affordable housing, and to promote their accelerated implementation," said Lan.
Lan also noted that the Ministry of Finance will introduce stronger fiscal policies aligned with next year’s economic and social development goals.
"First, we will actively leverage the expandable deficit space. Second, we will increase the scale of special-purpose bond issuance, expand the list of areas to which funds from bond sales can be channeled, as well as the scope for using such funds as capital. Third, we will continue to issue ultra-long special treasury bonds to support the construction of national security capabilities in major strategies and key areas. Fourth, we will enhance efforts to support large-scale equipment upgrading and expand the range and scale of consumer goods trade-in programs. Fifth, we will increase the volume of central transfer payments to local governments to ensure investment in key areas such as scientific and technological innovation and people's welfare," said Lan.
China's Finance Ministry plans stronger policies for next year: minister
China and Russia held the 19th round of their annual strategic security consultation in Beijing on Tuesday, with both sides exchanging in-depth views on major issues of common concern related to strategic security.
The meeting was co-chaired by Wang Yi, a member of the Political Bureau of the Communist Party of China Central Committee and director of the Office of the Central Commission for Foreign Affairs, and Sergei Shoigu, secretary of the Russian Federation Security Council.
Noting that this year marks the 75th anniversary of the establishment of diplomatic relations between China and Russia, Wang said that under the leadership of the two heads of state, China-Russia relations have maintained sound, stable momentum amid changes in global affairs.
Both sides adhere to the principles of lasting good-neighborliness and friendship, comprehensive strategic coordination, and mutually beneficial cooperation, all of which serve the fundamental interests of the two peoples, Wang observed.
He said that China and Russia have supported each other firmly on issues concerning their core interests, deepened political mutual trust and promoted practical cooperation, creating a new model for relations between neighboring major countries, and significantly promoting solidarity and cooperation within the Global South.
Guided by the consensus reached by the two heads of state, the China-Russia strategic security consultation mechanism should strengthen coordination on strategic and overarching issues related to the security and development interests of both sides, Wang said.
Wang also called for enhanced exchange and multilateral coordination between the two countries amid the changing international landscape, so as to provide a strong guarantee for the high-level development momentum of China-Russia relations and ensure that the two countries work together to maintain global strategic stability.
Shoigu said that Russia is willing to work with China to implement the consensus reached by the two heads of state, and enhance bilateral cooperation and coordination within multilateral mechanisms such as the United Nations, the Shanghai Cooperation Organization and BRICS, aiming to promote the continuous development of Russia-China relations.
China, Russia hold annual strategic security consultation
China, Russia hold annual strategic security consultation
