China’s Finance Ministry: Will boost the fiscal expenditure in 2019

Following the monetary stimulus efforts rolled out by the People’s Bank of China (PBOC), the Chinese Finance Ministry came out with a statement, citing that it will boost the fiscal expenditure this year.

Further, the Finance Ministry enlists the additional measures that will be undertaken for the fiscal boost:

Will implement larger tax cuts, fee cuts.

Tax and fee cuts will emphasize reducing burdens for small firms, manufacturers.

Will increase bond issuance to support key projects.

The government will reduce its general expenditures (by more than 5%).