China lowered its 2018 fiscal deficit target, one major part of fiscal policy, to 2.6 percent of its GDP, down from the 3-percent level in 2016 and 2017. The government has vowed to maintain a proactive fiscal policy and further expand issuance of special-purpose local government bonds.
财政赤字是财政政策的重要组成部分，2018年我国的财政赤字目标由2016和2017年占GDP3%下调为2.6%。中央政府已经宣布要保持积极的财政政策，进一步增发地方政府专项债券。

【相关词汇】

税收激励 tax incentive

减税降费 cut taxes and administrative fees

房产税 property tax

免税 tax exemption