China’s Vice Finance Minister: Increase in fiscal funds for local govts to support employment, consumption

China's Vice Finance Minister Xu Hongcai said in a statement on Friday, the fiscal funds have been increased for local governments, which will help support employment, expand consumption and investment.

Additional quotes

“Will set up special transfer payments of CNY2 trillion in funds.”

“Funds will directly reach the city, county levels to help local governments.”

“Funds to be used to support firms, residents in difficulties.”

“To be used to support employment, expand consumption and investment.”

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