Core Viewpoint - The first quarter fiscal report indicates a stable overall performance in national public budget revenue and expenditure, with significant support for key areas such as people's livelihoods and targeted tax relief measures [1][2]. Group 1: Fiscal Revenue and Expenditure - In the first quarter, national public budget revenue reached 62,037 billion yuan, reflecting a year-on-year growth of 8.6% [1]. - National public budget expenditure was 63,587 billion yuan, with a year-on-year increase of 8.3%, and the progress accelerated by 0.3 percentage points compared to the same period last year [1][2]. - Central public budget revenue amounted to 28,949 billion yuan, growing by 7.6% year-on-year, while local public budget revenue was 33,088 billion yuan, increasing by 9.5% [1]. Group 2: Tax Revenue and Support Policies - National tax revenue in the first quarter grew by 7.7%, while non-tax revenue saw a more substantial increase of 14.2% [2]. - The government has introduced over 20 tax and fee support policies since the beginning of the year, including measures to support manufacturing, small and micro enterprises, and individual businesses [2]. - A new combination of tax and fee support policies is expected to result in approximately 25,000 billion yuan in tax refunds and reductions for the year [2]. Group 3: Special Bonds and Fiscal Policy - The issuance and utilization of special bonds have accelerated, with 12,500 billion yuan issued by the end of March, accounting for 86% of the advance quota, which is an increase of 12,300 billion yuan compared to last year [3]. - The Ministry of Finance expedited the advance allocation of special bond quotas to local governments, allowing for timely issuance plans [3].
靠前发力稳大盘 新增财力惠企利民
Xin Hua Wang·2025-08-12 06:27