China said in a finance ministry article published Oct. 1 it will step up
counter‑cyclical fiscal support and deepen reforms. Near term it will keep a
reasonable deficit and spending scale and use government bonds, including
ultra‑long special sovereign bonds and special‑purpose bonds, to ease short‑term
economic volatility. Over the longer term it will advance fiscal‑tax reform and
strengthen fiscal management to remove bottlenecks to high‑quality growth and
improve policy effectiveness.
