On March 26, 2023, Foreign Minister Liu Kun attended the 2023 Annual Meeting of the China Development Forum and delivered a speech entitled "Fiscal Policy for High-quality Development".

Foreign Minister Liu Kun said that this year, China will further improve fiscal and tax policies and measures, earnestly implement the "two unswerving principles", treat all kinds of enterprises including private enterprises and foreign-invested enterprises as equals, and constantly improve the development environment.

Liu pointed out that to promote high-quality development, China will intensify efforts to implement a proactive fiscal policy. Among them, the "additional force" mainly from the intensity of fiscal expenditure, special bond investment, promote the sinking of financial resources to increase the intensity of fiscal policy; "Improving efficiency" mainly includes improving preferential policies for taxes and fees, optimizing the structure of fiscal expenditure, and strengthening coordination and cooperation with monetary, industrial, scientific and technological, social and other policies to improve policy effectiveness.

Liu said that the next step will be to give full play to the role of fiscal policy to effectively promote stable economic performance. We will accelerate the implementation of the innovation-driven development strategy and support the building of a modern industrial system. We will vigorously implement the regional development strategy and promote people-centered new urbanization. We will continue to improve people's well-being, enhance their sense of gain, happiness and security, and share new opportunities of Chinese-style modernization with the rest of the world.

Source: Ministry of Finance of the People's Republic of China