Active fiscal policy needed to improve efficiency and strengthen prudent monetary policy

At the opening conference of the NPC held in China on March 5, Chinese Premier Li Keqiang said in the government work report that adhering to the word stability and seeking progress while maintaining stability, maintaining policy continuity, coordination and cooperation of various policies It is necessary to strengthen and constitute a united force for promoting high-quality development. Active fiscal policy should improve efficiency.

The fiscal deficit rate should be settled at 3%. Prudent monetary policy needs to be strengthened. The development of the real economy should be supported. The fundamental stability of the RMB exchange rate should be maintained at a reasonable and balanced level. Industrial policy should be developed along with security. The transformation and upgradation of traditional industries should be encouraged. Science and technology policy should focus on self-reliance and self-improvement. The role of the government should be organizational in dealing with key core technologies and protect the basic livelihood of the people effectively.

(Credits- China Media Group, Beijing)