China pledges timely fiscal support to bolster growth
SPY•Officials reiterate fiscal reform and debt discipline
Liao said China would deepen fiscal and tax reforms, improve the budget management system, and build a clearer framework for central-local fiscal relations, with more clearly defined responsibilities and more balanced regional development.
Preventing local governments from taking on new hidden debt must remain an "iron discipline", he said, adding that fiscal risks in key areas, particularly local government debt, should be steadily reduced.
China says it will roll out additional fiscal measures
BEIJING, Aug 21 (Reuters) - China will roll out additional fiscal policy measures in response to economic developments, Vice Finance Minister Liao Min said on Friday, as growth slows in the world's second-biggest economy.
China will maintain the continuity and stability of macroeconomic policies and plan and allocate fiscal resources over a longer time horizon, Liao told a press conference.
