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Policymakers plan reductions in local government special bond quotas Policymakers are considering the possibility of moderately bringing down the fiscal deficit ratio and reducing the local government special bond quota in 2021, to further consolidate the sustainability of fiscal measures and bolster economic activity, experts said. Sustainable support from fiscal measures, especially to increase government-led investment, will hinge largely on the effective budget performance, which will concentrate funds in important areas, along with taxes, fee cuts and reforms of the local government s tax system, experts said after the Central Economic Work Conference, the bellwether meeting for the formulation of economic policy, which ended on Friday in Beijing. ....