China will reserve some policy room to cope with future risks, finance minister says

China will reserve some policy room to cope with future risks and challenges, finance minister Liu Kun said on the sidelines of the National People's Congress on Saturday.

"The lowering of the budget deficit ratio is an important measure to boost fiscal sustainability," Liu told reporters, adding that increased transfer payments could greatly help local governments to meet fiscal spending needs.

Also Read: Beijing 2022: China's Eileen Gu bags halfpipe gold, becomes first freeskier to win 3 medals in one Olympics