Fiscal policy to back building of well－off society in China: minister （1）   2002-11-13 19:11:03 Chinese Finance Minister Xiang Huaicheng who is attending the on－going 16th National Congress of the Communist Party of China （CPC） has pledged to take a forceful financial policy in the years to come to back the nation's building of a well－off society in an all－round way. "We will continue to improve and optimize the revenue system to give a full play to its regulating function for income distribution and create a fairer environment for competitions among various kinds of enterprises," he said in an interview with Xinhua. The reform in tax and fee will be advanced steadily, particularly in the rural areas, to standardize the order of government revenue distribution and lighten burdens on farmers, enterprises and the society, Xiang said. China will continue to improve its tax assignment system and payment transfer system to rationalize distribution relations between the central and local governments in a bid to promote a coordinated economic development among different regions and pave the way for the implementation of the "develop－the－west strategy." In line with the development of a market economy, said the minister, the structure of financial expenditure will be readjusted and optimized, and investment in agriculture, science and technology, education, health, public security, social security and environment protection be enhanced. Reform in fiscal expenditure management and a separate management of revenue and expenditure including institutional budget, distribution system of state treasuries and government purchases will be deepened to standardize financial administration and increase the efficiency of financial capital.