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China will adopt a more proactive fiscal policy by expanding central government budget deficit and increasing fund transfers to local governments to boost investment and maintain stable economic growth, according to the 2020 Government Work Report.
China put in place a financial stimuli plan for electric cars, plug-in hybrids and fuel cell vehicles in 2009, but officials have been cutting subsidies, most recently in June, and will stop them altogether by the end of 2020.
China will also carry out phased evaluations of the business environment across the country and offer further incentives for better performers. The 28 steps to improve the business environment that have worked well in some regions will be disseminated to encourage competition in the quality of business environment across the country.
China may soon enforce the revised rules for qualified institutional investor programs and allow foreign access to almost all major financial assets, leveling the playing field for domestic and foreign institutional investors, officials and experts said.
China on Tuesday urged the United States to exercise trade restriction measures with restraint and abide by multilateral trading rules to contribute a positive impetus to the global economy, the Ministry of Commerce said.
来源：资阳报