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China to increase fiscal spending, cut taxes in 2017: ministry
December 29, 2016 / 11:04 AM / a year ago

China to increase fiscal spending, cut taxes in 2017: ministry

BEIJING (Reuters) - China will appropriately increase fiscal spending in 2017 and continue with policies to reduce taxes and fees, the finance ministry said on Thursday after a meeting to set next year’s agenda.

People are silhouetted in front of cranes at the construction site of the terminal for the Beijing New Airport in Beijing's southern Daxing District, China October 10, 2016. REUTERS/Thomas Peter

“Make fiscal policy more proactive and effective, continue policies to reduce taxes and fees, appropriately expand fiscal spending, support the economy to operate within a reasonable range,” finance minister Xiao Jie said.

Xiao also said China would strengthen local government debt management and continue with tax reform.

Reporting by Beijing Monitoring Desk; Editing by Robert Birsel

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