Chinese vice premier stresses establishing modern fiscal, tax system

Chinese Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, speaks at a seminar on the modern fiscal and tax system in Beijing, capital of China, April 15, 2021. (Xinhua/Ding Haitao)

BEIJING, April 15 (Xinhua) -- Chinese Vice Premier Han Zheng on Thursday called for solid work on fiscal and tax priorities, urging efforts to establish a modern fiscal and tax system.

The Chinese economy is realizing a recovery growth, and this is a hard-won result, said Han, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee. He made the remarks at a seminar on the modern fiscal and tax system.

As the country still faces uncertainties in economic growth, efforts should be made to analyze the economic situation comprehensively, Han said.

He urged resolutely curbing the increase in implicit local government debts and prudently reducing the existing debts.

The housing market should be better regulated, and efforts should be made to promote its stable and sound development, Han said. He noted that the real estate sector should not serve as a short-term stimulus to the economy.

He also stressed defusing the risks of local small and medium-sized financial institutions under the law and regulations and ensuring the payment of old-age pensions on time and in full.