China’s FinMin: Further cut government spending and ensure tax cuts

The Chinese Finance Minister is out on the wires now, via Reuters, suggests to further cut government spending and ensure tax cuts.

Additional Comments:

Need a proactive fiscal policy to more effective.

To prevent local government debt risks.

The calls for further fiscal stimulus come after the Chinese activity data disappointed markets big time and reinforced fears over a Chinese economic slowdown, in the face of lingering US-China trade tensions.