China will implement a prudent fiscal policy to ensure a steady and sound development of its economy, said Li Yong, China's vice finance minister at a seminar on global and China's economy in Beijing on March 22, according to Hong Kong's Wen Wei Po.

Li stressed China will work to get deficit under control this year, restructure public spending, which will mainly be used for supporting the vulnerable group and weak fields. In addition, China will continue deepening its fiscal and tax reform.

It is learned that nearly 100 people including Chinese government officials, world famous economists and foreign diplomatic envoys to China attended the seminar. They held discussions on balanced global development, international macroeconomic policy coordination and China's macroeconomic policy.

By People's Daily Online