China is set to expand effective investment by allocating 735 billion yuan (about $100 billion) in its central government budget for 2023.
According to a government work report submitted on Wednesday to the national legislature, China will leverage various government investment instruments to create greater synergy between fiscal and financial policies. The focus is on national development strategies and meeting the needs of the people.
Chinese Premier Li Qiang delivered the work report on behalf of the State Council at the opening meeting of the third session of the 14th National People’s Congress in Beijing.
The report highlights plans to expand project reserves and ensure the supply of production factors. China aims to make good use of ultra-long special treasury bonds and increase ultra-long-term loans along with other financing support.
This significant investment is expected to boost economic growth and development, aligning with the country’s goals to enhance infrastructure and support sectors critical to national progress.
