China’s Finance Ministry: Will roll out fiscal policies proactively to stabilize growth next year

China will roll out fiscal policies proactively to stabilize economic growth in 2022, the country’s Finance Ministry said at its briefing on Monday.

“Fiscal expenditures will be kept up to bolster growth and the central government will step up transfers to local governments to support necessary spending,” the Ministry said.

The statement added, “China will maintain "overall social stability" ahead of the 20th congress of the ruling Communist Party next year.”

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