The 13th National People's Congress, China's national legislature, opens its second session at the Great Hall of the People in Beijing, March 5, 2019. [Photo by Xu Jingxing/chinadaily.com.cn]

Fiscal deficit ratio

China will raise its fiscal deficit target to 2.76 trillion yuan, or 2.8 percent of GDP, this year from 2.6 percent in 2018. Total government expenditure is budgeted at over 23 trillion yuan, up by 6.5 percent from last year.

The measure is being taken to stabilize economic growth by enlarging government spending. As a major measure to tackle economic risks, the proactive fiscal policy in 2019 will become stronger and more efficient.