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China's finance minister vows more fiscal support ahead of party congress

The key once-in-five-years party congress will be held in autumn this year, when Chinese President Xi Jinping is widely expected to be confirmed for a third five-year term

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Photo: Reuters

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China's top finance minister vowed to cut corporate tax rates more forcefully, strengthen targeted fiscal spending, and tighten fiscal discipline this year as part of efforts to stabilise the macro economy ahead of the Communist Party's 20th party congress.

China's finance department must raise its political standing and shoulder responsibility for the sustainable and healthy development of the economy, as well as maintaining social stability, Liu Kun, head of China's Ministry of Finance said in an article published by the People's Daily on Friday.

The key once-in-five-years party congress will be held in autumn this year, when Chinese President Xi Jinping is

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First Published: Feb 18 2022 | 9:39 AM IST

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