According to the 21st Century Herald, citing China Finance Minister Liu Kun. The country “will tighten efforts this year to implement a strong fiscal policy. And efficient taxation system in order to stabilize the economy.”
“The global economic situation is not optimistic,” Liu said, “and China’s economy faces challenges.”
“A significant priority this year will be support for small and medium-sized firms, self-employed businesses, and disadvantaged industries,” he added.
Meanwhile, China’s National Bureau of Statistics (NBS) stated that earnings at Chinese industrial enterprises fell 22.9% year on year in the first two months of 2023.
