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Wen urges firm implementation of proactive fiscal policy

(Xinhua)
Updated: 2009-07-24 15:37

Chinese Premier Wen Jiabao has urged the unswerving implementation of the proactive fiscal policy and relatively easy monetary policy to shore up the economic recovery, despite the "grim" fiscal conditions.

Related readings:  China vows to stick to macroeconomic policies in H2  Govt supports proactive growth  Active fiscal policy continued for growth amid crisis  IMF welcomes China's substantial fiscal support to economy

Wen also urged finance departments to implement the stimulus package "at full swing", and beef up social security, as well as other spending to improve people's lives.

He made the remarks prior to the national conference of finance bureau heads, which is held from July 23-24 in Beijing.

The economy is at a critical moment on the road to recovery, and the fiscal conditions remained "grim", he said.

Wen asked finance authorities to cut back unnecessary expenditure, and put the money into the real economy to promote solid recovery.