China will release funds to local govts more quickly to boost economy

Topics Chinese economy | China


China will speed up the release of special funds to local governments to support the economy, Vice- Finance Minister Xu Hongcai told reporters on Wednesday. The government has said it would set up special transfer payments of 2 trillion yuan ($289.

72 billion) from special treasury bonds and an increased budget deficit to local governments. “The implementation of specific policies and measures will have a positive impact on investment, consumption as well as imports and exports,” Xu told a briefing. Of the 2 trillion.....

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