China eyes enhanced public service investments

China is moving to enhance the coordination between its fiscal and financial policies to increase investment support for a broader range of public services, said Finance Minister Lan Fo'an during the ongoing session of the Standing Committee of the National People's Congress, China's top legislature.

China will continue to implement consumption-boosting initiatives, including loan interest subsidies for personal consumption and services businesses, to unleash consumption potential in areas such as elderly care and childcare services, Lan said on Wednesday when delivering a report to lawmakers on this year's budget implementation to date.

China is actively leveraging special-purpose bonds and ultra-long-term special treasury bonds, while strengthening the coordination between fiscal and financial tools, to enable increased investment support for more public services and encourage private investment participation, he said.

Going forward, China will make full, effective use of its more proactive fiscal policy and continuously improve its policy toolkit, he added, ensuring policy continuity, stability, flexibility, and foresight to address various uncertainties and promote high-quality development. 

wangkeju@chinadaily.com.cn