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China will take "much stronger" moves to curb illegal or irregular borrowing by local governments, to prevent debt growth that may spark systemic risks, a senior official with the Ministry of Finance told China Daily.
China's annual fiscal income rose to 18.34 trillion yuan last year, up by 6.2 percent from 2017. The total fiscal spending exceeded 22 trillion yuan, a year-on-year growth of 8.7 percent, the Ministry of Finance said on Wednesday.
China will keep its prudent monetary policy "neither too tight nor too loose" and maintain market liquidity at a reasonably ample level, according to the agenda-setting Central Economic Work Conference held in December.
China will not stop its efforts to expand opening up and reform, nor will it close doors to the outside world, Xi said.
China will further reduce taxes and fees to ease burdens on enterprises, firmly prohibit any new burdens from being enacted, research and promulgate new policies to substantially reduce taxes and fees, and ease the difficulties in getting financing for the real economy, the Premier added.
来源：资阳报