Wang Yida made the remarks at a press conference held by the the State Council Press Office. He pointed out that in view of the slowdown of China's economic growth in the fourth quarter of 2008, the China government restarted the proactive fiscal policy, which played a constructive role in promoting economic development.
Wang Yida said that a proactive fiscal policy mainly includes five aspects. The first is to expand government public investment and vigorously promote consumer demand. Increase the scale of national debt, expand government public investment, and organically combine it with stimulating consumption, coordinating development, and deepening reform. Optimize the government's public investment structure, focusing on people's livelihood projects, infrastructure, ecological environment and post-disaster recovery and reconstruction, driving and guiding consumer demand and rapidly stimulating economic growth. At the same time, give full play to the direct and effective advantages of financial funds in stimulating economic growth, and promote consumption growth through various means such as subsidies for home appliances to the countryside, increasing material reserves, and subsidies for agricultural machinery purchase.
In addition, it also includes promoting tax and fee reform and reducing the burden on enterprises and residents. Promote enterprises to expand investment and enhance residents' spending power; Increase the scale of financial subsidies and increase the income of low-income groups. Give full play to the role of fiscal and taxation policies in regulating the pattern of national income distribution, focusing on increasing the income of low-income people such as urban and rural subsistence allowances and improving their spending power; Further optimize the structure of fiscal expenditure to ensure and improve people's livelihood. Focus on increasing investment in people's livelihood areas such as agriculture, rural areas and farmers, education, employment, housing, medical care and social security, and tilt to the central and western regions; Vigorously support scientific and technological innovation, energy conservation and emission reduction, and promote economic restructuring and transformation of development mode.
Wang Yida believes that it remains to be seen how deeply the current international financial crisis will affect the world and China's economy, but he stressed that the China government is ready to deal with the crisis. China has certain advantages in coping with this financial crisis, mainly manifested in the rapid development of industrialization and urbanization in China, the vast domestic market and huge investment and consumption potential. Even if international demand shrinks, there is still a lot of room for expanding domestic demand. At the same time, China's 30 years of reform and opening up have laid a good material foundation for coping with the crisis. At present, China not only has a high savings rate and foreign exchange reserves, but also the quality of its workforce is constantly improving. In addition, China has a solid financial foundation, a sound financial system and constantly improved macro-control measures.
Wang Yida expressed his belief that with the government's macro-control role and the market's self-regulation ability enhanced, China's economic development potential is expected to be further released, China's economy will continue to maintain a steady and rapid growth momentum and achieve sound and rapid development, and China is confident and capable of overcoming the global economic crisis.