general characteristics of the proactive fiscal policy in 2022
china’s economic development faces the triple pressures of demand contraction，supply shocks，and weakening expectations. on march 5，2022，at the fifth session of the 13th national people’s congress，premier li keqiang of the state council put forth in the report on the work of the government the goals of china’s social and economic development in 2022，setting the tone and fundamentals for the fiscal policy of the year.
improved effectiveness and accuracy
the general principle of the proactive fiscal policy in 2022 is being “more effectual，more targeted，and more sustainable” .
“enhance the effectiveness of policy” means coordinating financial resources in a prudent and effective way as required by the macro policy. it means strengthening management on budget preparation，audit，expenditure，and performance，linking performance results and budgetary arrangements，and coordinating actions with monetary policy.
