Liu Shangxi, head of the Chinese Academy of Fiscal Sciences under the Finance Ministry, told China Daily that the funds for the 1 trillion yuan special treasuries may come from some targeted commercial banks.
财政部中国财政科学研究院院长刘尚希在接受《中国日报》采访时表示,1万亿元特别国债的资金可能来自一些目标商业银行。
Liu, who is a member of the National Committee of the Chinese People's Political Consultative Conference said that the current market liquidity is sufficient to support the new issuance and the issuance should avoid side-effects, such as growth in interest rates.
全国政协委员刘尚希说,目前的市场流动性足以支持增发特别国债,特别国债的发行应避免负面作用,如利率增长。
Yang Weimin, former deputy head of the Office of the Central Commission for Financial and Economic Affairs, said the expanded fiscal deficit will be used to safeguard employment and livelihoods, especially in the city-and county-level governments, which is an innovative fiscal method.
中央财经领导小组办公室前副主任杨伟民表示,增加的财政赤字将用于保障就业和民生,特别是在市县级政府,这是一种创新的财政方法。
More monetary actions are needed to coordinate with the fiscal stimulus measures, such as further encouraging commercial banks to reduce the cost of loans, especially for small businesses, said Yang, a member of the Standing Committee of the 13th CPPCC National Committee.
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