News list for "Lanfoan"
On May 5, 2025, the 28th ASEAN, China, Japan and South Korea (10 + 3) Finance Ministers and Central Bank Governors Meeting was held in Milan, Italy. The meeting mainly discussed the global and regional macroeconomic situation, 10 + 3 regional financial cooperation and other topics, and issued a joint statement. Finance Minister Lan Foan attended and chaired some of the topics of the meeting as co-chair, accompanied by Vice Minister Liao Min. Before the meeting, Lamphorian also chaired the meetin...
1. Minister of Finance Lan Foan: While addressing the risk of existing debt, new hidden debt must be resolutely curbed. 2. The Standing Committee of the National People's Congress has reviewed and approved measures to maximize debt in recent years, increasing the local government debt limit replacement stock by 6 trillion yuan. 3. President of the Chinese Academy of Fiscal Sciences: The combination of bonds will significantly ease the pressure on local finances, and the deficit rate is expected ...
On November 8th, Minister of Finance Lan Foan made a statement on the proposal to increase the local government debt limit to replace the stock of hidden debt. The Ministry of Finance will work with relevant departments to resolutely implement the decision-making and deployment of the Party Central Committee, and effectively resolve the local government's stock of hidden debt. Speed up the progress of bond issuance. Support local governments to do a good job in issuance, speed up the replacement...
On November 8th, Minister of Finance Lan Foan introduced at a press conference that from an international comparison, the government debt ratio of our country is significantly lower than that of major economies and emerging market countries. According to the statistics of the international monetary fund, the average government debt ratio of G20 countries is 118.2% at the end of 2023, including: Japan 249.7%, Italy 134.6%, the United States 118.7%, France 109.9%, Canada 107.5%, the United Kingdom...
On November 8th, Minister of Finance Lan Foan introduced at a press conference that at present, the relevant tax policies to support the healthy development of the real estate market have been submitted for approval according to the procedures and will be launched in the near future. The work of implicit debt replacement will start immediately. The issuance of special government bonds to supplement the core first-level capital of large state-owned commercial banks is being accelerated. In terms ...
On November 8th, Lan Foan said that the central government still has more room for borrowing and deficit improvement. At present, we are actively planning the next fiscal policy and strengthening counter-cyclical adjustment.
On November 8th, Minister of Finance Lan Foan introduced at a press conference that more awesome fiscal policies will be implemented in combination with next year's economic and social development goals. First, actively use the deficit space that can be improved. Second, expand the scale of special project bond issuance, broaden investment fields, and increase the proportion used as a capital base. Third, continue to issue super long-term special treasury bonds to support the construction of sec...
On November 8th, Minister of Finance Lan Foan introduced at a press conference that this year, due to various factors, the central and local fiscal revenue has fallen short of expectations. In this regard, we are taking a series of measures to ensure the completion of the annual budget targets. From a local perspective, we have set out a limit of 400 billion yuan for local government debt balances to supplement the comprehensive financial resources of local governments; encourage local governmen...
1. Minister of Finance Lan Foan: A package of fiscal increment policies will be launched in the near future; it is planned to increase the large-scale debt limit at one time and replace the local government's stock of hidden debt; the central finance still has a large room for deficit increase. 2. Xinhua decoding: The fiscal increment policy is coming, and the scale may be above 2.20 trillion yuan. 3. Liu Yuhui: Fiscal measures directly hit the target of debt transformation, looking forward to t...
On October 12, Minister of Finance Lan Foan said at the press release of the State Information Office on October 12 that the overall release of local debt risks has been alleviated, and the debt transformation work has achieved phased results.
