China will continue to push forward with fiscal and tax policy reforms in 2014. Chinese Finance Minister Lou Jiwei, has told a press conference on Thursday morning that the country can expect even deeper reforms of its fiscal budget mechanism over the upcoming year. It comes after China unveiled plans for a larger budget deficit in 2014. China is trying to meet rising expectations for improved social services, while grappling with mounting environmental problems. The finance minister also said China will strengthen supervision of preferential tax policies. The minister outlined a number of key areas for reform.
