Expect more proactive fiscal policy this year

Liao Min, China’s Vice Finance Minister, said on Friday that “we can expect more proactive fiscal policy in 2025, in terms of strength, efficiency and timing.”

Additional comments

To speed up fiscal spending in a bid to formulate actual spending.

China’s fiscal policy has abundant policy room and tools.

China has relatively big room of raising debt and deficit.

We will step up the coordinated efforts between fiscal policy and monetary policy in 2025.