China's fiscal policy focuses on market stability, consumption boost

China's fiscal policy will place more efforts this year on anchoring market expectations, stabilizing investment and boosting consumption, according to a speech by the country's finance minister Liu Kun, which was released late on Wednesday.

The speech was made by Liu at last year's work conference on the fiscal front. The conference was held late last December.

In the speech, Liu noted that this year, fiscal policy will work harder to satisfy the needs of macro economic coordination and guard against fiscal risks in parallel. The intensity of fiscal policy will be expanded, according to Liu. The policy mix of fiscal deficit and discount on special local government bonds will be optimized, and the intensity of fiscal expenditure will be properly increased.

He also noted that fiscal policy tools shall be brought into better play in supporting both rigid demand for housing and for housing improvement and boost the stable development of the real estate market.