China has more room to act on fiscal policy amid global uncertainties, finance minister says

Key Points

China has more room to act on fiscal policy amid domestic and external uncertainties, Finance Minister Lan Fo’an told reporters on Thursday.
China on Wednesday announced it was raising its on-budget deficit to 4% of the country’s gross domestic product — the highest since at least 2010.
“China has delivered a pro-growth message here at the [National People’s Congress], in line with expectations,” said Aaron Costello, head of Asia at Cambridge Associates.

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