MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

China’s fiscal policy this year will be "very proactive", fully taking into account the need to increase countercyclical adjustment, Liao Min, Vice Minister of Finance told a press conference on Friday.

The deficit size will increase significantly, and total fiscal expenditure will expand further, providing strong support for the continued recovery of the economy, said Liao, adding that exact figures will be announced after going through legal procedures. (See MNI: China To Raise 2025 Deficit Ratio, More Special Bonds Eyed)

Authorities will strengthen coordination between fiscal and monetary policies, so to drive more bank credit and private investment via the use of public funds, Liao added.