Tax & Spend
China Fiscal Spending Will Rise in 2024, Finance Chief Says
- Minister’s remarks add to pledges for more policy support
- Government spending was weak in 2023 amid property crisis
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China’s government spending will rise this year, the nation’s Minister of Finance said, as authorities look for ways to bolster domestic demand and help the world’s second-largest economy regain momentum.
“We will make sure the overall size of fiscal spending increases to play a better role stimulating domestic demand,” Finance Minister Lan Fo’an said in an interview published Thursday by the People’s Daily, the Communist Party’s mouthpiece.