what are the goals of fiscal policy in china?

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Expert Solution

The role of Fiscal Policy in many countries is to accentuate economic growth, managing economic fluctuations, controlling pollution and focusing on income distribution.

This time there is a shift in spending by the Chinese authorities from capital projects to social projects. The priorities for 2018 Fiscal Policy will be on healthcare, education, social security, checking environmental pollution and public services. "Infrastructure investment in 2018 is expected to fall, with more funding going to environmental protection and targeted poverty reduction," said Lu Zhengwei, chief economist with Industrial Bank.

In addition to this, China is looking forward to implement a cautious and neutral monetary policy in 2018, as compared to that of 2017.

With this sort of shift in focus, further progress is expected in boosting China's sustainability and growth.

"Proactive fiscal policy and prudent monetary policy, both major macroeconomic policies, will pave a solid foundation for China's economic restructuring and deepening supply-side reform next year", said Zhao Xijun from Renmin University of China.

Rahul Sunny answered 1 year ago

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