September 6, 2016 / 10:12 AM / a year ago

China says will step up proactive fiscal policy efforts, encourage credit support

Birds fly past the chimney of a thermal power plant as China's national flag flutters in a suburb in Shanghai January 9, 2015. REUTERS/Aly Song/File Photo

BEIJING (Reuters) - China will step up proactive fiscal policy efforts now that commodity prices are relatively low, the State Council, or cabinet, said in a notice published on its website on Tuesday.

The notice is a summary of a routine State Council meeting held by China’s Premier Li Keqiang on Monday.

The State Council also said it would encourage China’s policy banks to step up credit support.

It reaffirmed that China would actively reduce overcapacity and further liberalize infrastructure investment, meaning a further opening up to private investment.

Reporting by Yawen Chen and Nicholas Heath; Editing by Jacqueline Wong

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