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Disinformation report hotline: 010-85061466
Vice Minister of Finance Liao Min at the World Bank's 110th Meeting of the Development Committee, held in Washington DC on October 25. /China's Ministry of Finance
China will strengthen its counter-cyclical fiscal policy efforts by leveraging government spending to stimulate social investment, boost consumption, and increase effective demand, said Liao Min, vice minister of Finance, during a World Bank meeting on Friday, according to a statement from China's Ministry of Finance on Sunday.
Liao highlighted that the recent rollout of a comprehensive package of incremental policies by the Chinese government has garnered widespread attention from the international community.
He noted that China will also implement a series of strong measures to address local government debt, stabilize the real estate market, increase the income level of key groups, and ensure the future well-being of citizens.
Liao expressed confidence that China will achieve its annual economic growth target of around 5 percent this year, continuing to contribute positively to global economic growth.
The comments, among others, were made at the World Bank's 110th Meeting of the Development Committee held in Washington DC on Friday.