CHENGDU, Dec. 30 (NBD) -- China will continue implementing positive financial policies next year to boost economic growth. 

The country's new finance minister Xiao Jie made the statement at the national financial work conference in Beijing on Thursday. 

China will continue with policies on tax abatement and appropriately expand the scale of fiscal expenditure as well as the pilot program of replacing business tax with value-added tax. 

Work will also be done to reduce overcapacity, inventory, and financial risks, lower corporate costs, and strengthen weak links. 

Moreover, China will strive to improve positive incentive mechanisms for inclusive finance programs, speed up the revision of the Regulation for the Implementation of the Budget Law of China, and promote the reform of the division of administrative authority and spending responsibilities between the central and local governments.