Economic recovery package gets more impetus

BEIJING: China will step up its efforts on both the fiscal and monetary fronts to expedite delivery of its freshly unveiled economic package for recovery, to revitalise the market and ensure stable overall economic performance, officials said.

Ou Wenhan, assistant minister of finance, confirmed at a news briefing on Thursday that the Finance Ministry will promptly redouble fiscal policy intensity by expanding tax credit refunds, expediting issuance of local government special-purpose bonds, boosting consumption and supporting people’s essential needs.