December 29, 2016 / 11:02 AM / 3 years ago

China to increase fiscal spending, cut taxes in 2017: ministry

People are silhouetted in front of cranes at the construction site of the terminal for the Beijing New Airport in Beijing's southern Daxing District, China October 10, 2016. REUTERS/Thomas Peter

BEIJING (Reuters) - China will appropriately increase fiscal spending in 2017 and continue with policies to reduce taxes and fees, the finance ministry said on Thursday after a meeting to set next year’s agenda.

“Make fiscal policy more proactive and effective, continue policies to reduce taxes and fees, appropriately expand fiscal spending, support the economy to operate within a reasonable range,” finance minister Xiao Jie said.

Xiao also said China would strengthen local government debt management and continue with tax reform.

Reporting by Beijing Monitoring Desk; Editing by Robert Birsel

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