A Chievement And Direction Studies Of Positive Fiscal Policy In China

The Asian financial crisis hampered the development of economy and trade all over the world, including China. The situation in China was severe resulting from unbalanced economic structure. In order to stimulate the development of economy, a policy named Positive Fiscal Policy came out after referring to the relevant international theories and practice. The paper represents that Positive Fiscal Policy had made great achievements in the aspects of fueling national economic growth; balancing economic structure; promoting development of the social welfare system; enriching the experience in macroeconomic regulation and so on.Some adverse influence appeared as Positive Fiscal Policy extended to be a middle-term policy. Although the paper points out that there were some reasons for extension of Positive Fiscal Policy, meanwhile the paper also concludes these effects, including the accumulation of fiscal risk and depression of policy achievement, cannot be ignored in the next period of the implementation of Positive Fiscal Policy.At the present time, there still exist some uncertain factors in the recovery of the global economy. We propose the conception of scientific development, which emphasizes human-oriented, coordinative, persistent and comprehensive development. The objective of economic development turns from keeping fast growth rate to pressuring the stability, coordination and safety of economy. Under this situation, the paper states that it is time to make some adjustments of our Positive Fiscal Policy in order to strengthen macroeconomic regulation. Finally this paper finds out the orientation of the adjustments of Positive Fiscal Policy, and put forward some proposals on treasury bonds; tax; rural problem; social welfare and coordination of macroeconomic policies etc.