Group 1 - The core viewpoint of the articles emphasizes the implementation of more proactive fiscal policies to support stable economic operations in China [1][3][5] - In the first seven months of this year, the total revenue from broad finance was approximately 15.9 trillion yuan, remaining stable compared to the same period last year, while expenditures reached about 21.5 trillion yuan, reflecting a year-on-year growth of approximately 9.3% [1][2] - The fiscal expenditure exceeded revenue by about 5.6 trillion yuan, marking a year-on-year increase of approximately 47%, indicating a significant expansion of fiscal policy [1][2] Group 2 - Tax revenue, often referred to as the "economic barometer," has shown improvement, with stable growth in VAT and a significant increase in securities transaction stamp duty due to active stock market transactions [2][3] - Local government land transfer income has also shown signs of recovery, with land transfer revenue for the first seven months amounting to approximately 1.7 trillion yuan, down 4.6% year-on-year, indicating a narrowing decline [2][3] - The net financing of government bonds reached 8.9 trillion yuan in the first seven months, supporting broad fiscal expenditures, particularly in the areas of social security, education, and healthcare [3][4] Group 3 - The central government has accelerated the issuance of special bonds and policy financial tools, which is expected to maintain a certain level of fiscal expenditure [3][4] - The fiscal policy is projected to continue supporting economic growth, with adjusted fiscal expenditure growth rates estimated between 4.1% and 6.7% for the second half of the year, aligning with economic growth targets of 4.7% to 4.8% [4][5] - The Ministry of Finance has indicated that it will utilize more proactive fiscal policies and reserve tools to address uncertainties and stabilize employment, businesses, and market expectations [5]
前7个月广义财政支出超21万亿元 更加积极财政政策落地
Sou Hu Cai Jing·2025-08-21 17:04