MNI BRIEF: China Ready To Use Central Budget To Support SMEs

China's National Development and Reform Commission will make good use of the central budget to support private investment projects, Guan Peng, the agency's deputy director of the Economic Operation Adjustment Bureau, told reporters on Tuesday.

Officials will strengthen procurement policy to support SME firms, with local governments encouraged to increase the portion of advance payment to private firms to more than 30% of the contract amount, Peng added. 

China will maintain proactive fiscal policy with a modest expansion of debt over the next five years as it seeks potential GDP growth of around 5% and aims to double GDP per capita by 2035, policy advisors recently told MNI. (MNI: China To Maintain Modest Debt Expansion Over)