Chinese Finance Minister Jin Renqing highlighted his aspirations of making more fiscal revenue and sharpening the capability of controlling the market.

He noted that tax collection in line with the law and stricter control of non-taxable income would be strengthened to establish a mechanism generating steady, sustainable and fast fiscal revenue growth. In this way, he believes, the country will be financially more powerful.

He thinks it is necessary to beef up the macro-control and supervision in the fiscal front so that the market economy would head toward the right track. Indirect adjustment tools, such as the fiscal polices, should be applied to leverage the economy. The government is expected to navigate the economy with various fiscal tools like state treasure bonds, taxation and fiscal discounts.

He sees the importance of identifying the key tasks, proper methodologies, and improving the operating system for the supervision of fiscal affairs. These, he said, would lead to more efficient and outstanding performance of his department's responsibilities.

He recognizes that a perfect structure for fiscal expenditure is one of the cornerstones for a harmonious society. He decided to reduce the direct investment on general competition-oriented sectors while injecting more into public education, health care, social security, environmental protection, utilities, and public security.

Also on the agenda is the adjustment of income distribution to help the weak. Favorable fiscal policies are also under consideration to boost the development of the rural areas, western region and the old industrial base in the northeast of the country. The purpose is to achieve the harmony between the urban and rural areas and between different regions in the country. The basic idea is that every citizen can reap the fruits of the reform and opening-up policy.

Besides, Jin reiterated the commitment to the tax-for-fee reform in rural economy, easing of financial problems faced by counties and villages, and higher administrative capability of grass-root authorities.

By People's Daily Online