Chinese Finance Minister Lan Fu said in an interview with Xinhua News Agency on Saturday that China will strengthen its fiscal policy over the next five years. Lan added that the country will enhance countermeasures to counteract economic cycles and will set the deficit-to-GDP ratio and the size of government borrowing in line with the development of the situation. He also noted that China will also make use of tools such as the budget, taxes, government bonds, and transfer payments to provide sustainable support for economic and social development. As for the international situation, Lan said that the external environment is volatile and unstable, and competition among major countries has become more complicated and intense.
