China Vice Finance Minister says fiscal spending, policy will help expand domestic demand

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China Vice Finance Minister</p>

<ul><li>2023 tax and fee
cuts, rebates totalled 2.2 trillion yuan</li><li>Expects fiscal
revenue to continue to recover in 2024</li><li>Will maintain
certain intensity in fiscal spending in 2024</li><li>Fiscal policy will
help expand domestic demand</li><li>Will appropriately
increase investment under central government budget</li></ul><p>This is hardly flood-like stimulus, but China has been saying that won't be coming. China's piecemeal efforts have not adequately addressed a moribund, deflationary economy. Still, these efforts are better than nothing. </p><p>In other news from China, this is from a Bloomberg report (gated), in brief:</p><ul><li>President Xi Jinping skipped setting the date for an already delayed meeting to map out China’s longer-term economic plans, a move likely to disappoint already gloomy investors.
</li><li>
The Communist Party’s 24-member Politburo pledged to tighten political control and discipline at its monthly gathering on Wednesday, according to the official Xinhua News Agency. </li><li>The readout from the conclave didn’t mention the third plenum, which normally focuses on economic issues. Not setting a date for an already delayed meeting to map out China’s longer-term economic plans is another disappointment for investors. </li></ul><figure data-media-><img src="https://images.forexlive.com/images/gold%20china%20President%20xi_id_0630fb2f-46d0-4d88-972e-e51b10896628_original.jpg" alt="gold china President xi" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/gold%20china%20President%20xi_id_0630fb2f-46d0-4d88-972e-e51b10896628_original.jpg" /></figure>

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This article was written by Eamonn Sheridan at www.forexlive.com.