China reiterates proactive fiscal policy stance in 2012

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　　In an article published on the ministry's website, Xie emphasized the important role of fiscal policy in maintaining China's growth.

　　The country's fiscal deficit³ and government debt ratio both remain within a safe zone, giving room for the government to maintain its proactive fiscal policy, Xie said.

　　China's economy grew at its slowest pace in 10 quarters during the last quarter of 2011. Its fiscal revenue jumped 24.8 percent year-on-year to hit a record high of 10.37 trillion yuan (1.65 trillion U.S. dollars) last year.

　　"It's necessary and possible to continue implementing⁴ the proactive policy," Xie said.

　　The central government's infrastructure⁵ investment will remain at a "reasonable" level this year, focusing on the construction of affordable⁶ housing projects, building new water conservancy projects in rural areas, emission⁷ reduction and energy-saving, as well as the development of emerging strategic industries, he said.

　　Xie said China will enhance support for micro- and small-sized enterprises, lower import tariffs⁸ on some commodities and increase imports of energy, resources and advanced equipment.

　　The country will also push resource tax reforms forward in 2012 and promote property taxes on a trial basis, Xie said.

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