Government and Policy

Hu Jintao urges further fiscal, taxation system reform

(Xinhua)
Updated: 2010-01-10 10:04

BEIJING: Hu Jintao, general secretary of the Central Committee of the Communist Party of China (CPC), urged to deepen fiscal and taxation system reforms, and improve the efficiency of fiscal management, so as to maintain steady and comparatively fast economic development.

It is imperative to continue the pro-active fiscal policy and moderately loose monetary policy, with priority given to the implementation of policies that support domestic consumption expansion, economic growth, economic structure adjustments and projects concerning people's livelihood, said Hu at a seminar attended by members of the Political Bureau of the CPC Central Committee and researchers from the nation's top think tanks on Friday afternoon.

He also called for more investment in agriculture and rural areas, independent innovation and fostering of emerging strategic industries.

More fiscal resources should be channeled to promote public welfare development and back up undertakings concerning people's livelihood, especially education, employment, social security, medical care, affordable housing construction, and environmental protection, according to Hu.

Hu also called for improving the taxation system by optimizing taxation system structure, working out a more fair distribution of the tax burden, and standardizing income distribution, in a bid to promote healthy economic development.