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China will maintain a proactive fiscal policy stance in 2019, with a higher deficit-to-GDP ratio to leave policy space to address potential risks.
China's M2 growth has accelerated since the central bank eased monetary policy to mitigate COVID-19 shocks and maintained double-digit growth since March, up from the 8.7-percent rise seen in December 2019, according to official data.
China's FTZs, which have expanded from the first in Shanghai to the current 11 across the country, are a way of testing new policies, including interest rate liberalization and fewer investment restrictions, to better integrate the economy with international practices.
China will study a long-term mechanism for the non-renminbi sovereign bond issue, said Shi Yaobin, vice-minister of China's Ministry of Finance, during a Friday media briefing in Hong Kong.
China will fully open up its general manufacturing sectors to foreign investors, expand opening-up in such sectors as telecommunications, health, education, elderly care and new energy vehicles, and open up the bank card settlement market in an orderly manner, he ensured.