Finance Minister Lan Fo'an: Make good use of a more proactive fiscal policy, and increase the strength of fiscal counter-cyclical adjustments.

Minister of Finance Liu Fuan stated in an article published in the Study Times that the government will make more active use of fiscal policies and increase the strength of fiscal counter-cyclical adjustments. They will accelerate the issuance and use of ultra-long-term special national bonds and local government special bonds, in order to create tangible work results as soon as possible. They will leverage the guiding and driving effect of fiscal funds to continuously unleash the effectiveness of various policies. They will effectively implement various financial and tax policies to help and support enterprises, improving the microeconomic circulation. They will comprehensively utilize special funds, tax incentives, government procurement, and government investment funds to support the transformation and upgrading of traditional industries, the growth of emerging industries, and the forward-looking layout of future industries. They will guide and urge local governments to carry out implicit debt replacement work, actively and prudently resolve the debt risks of local governments.