China appointed a new finance minister on Monday who is expected to maintain an expansionary fiscal policy and push reforms to put a lid on rising debt levels in the economy.
Xiao Jie, a former tax chief and Minister of Finance deputy minister, was named minister of finance, the official Xinhua new agency said on Monday.
Xiao, 59, who is currently deputy secretary general of the State Council, replaces Lou Jiwei, who had served as finance minister since March 2013.
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