Chinese Finance Minister Xiao Jie talks about the countrys budget plan for 2018 during a press conference in Beijing on March 7, 2018.China’s rubber-stamp parliament kicked off its most significant meeting in a generation on March 5, preparing to offer Xi Jinping a lifetime mandate to mould the Asian giant into a global superpower. / AFP PHOTO / Nicolas ASFOURI
BEIJING: China’s fiscal policy remains supportive for economic growth this year despite a rare cut in the government’s budget deficit target, Finance Minister Xiao Jie (pic) said yesterday, as markets worry over whether Beijing is considering scaling back stimulus.
Premier Li Keqiang announced on Monday that Beijing has cut the annual budget deficit target to 2.6% of gross domestic production (GDP) from 3% in 2017 – the first cut since 2012.
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