Premier Lin Chuan has released details of the 2017 budget, with little change in spending policy.
On Thursday, Lin said the gap between revenue and expenditure is to be reduced by just 0.8%. The premier said any large-scale public spending will require careful planning, and that the government has not been in power long enough to make major changes. The new administration took over in May.
Lin said improving the state of the economy depends on more than just public spending. He said that the government is developing plans to encourage investment in public-sector enterprises, especially as ongoing investment projects run their course.
Lin said the government is working to improve the environment for private investors. However, he said that the government will not loosen regulations or make moves that could weaken protection for the environment or workers’ rights.