“十四五”时期，财政收入“蛋糕”更大，财政民生投入近100万亿元——国家财政实力持续增强

Core Viewpoint - The "14th Five-Year Plan" period has seen significant enhancements in China's fiscal strength and efficiency, emphasizing the role of finance as a fundamental pillar of national governance [1] Fiscal Strength and Revenue Growth - During the "14th Five-Year Plan," national public budget revenue is expected to reach 106 trillion yuan, an increase of 17 trillion yuan or approximately 19% compared to the "13th Five-Year Plan" [2] - Local fiscal strength has steadily grown, with 16 provinces projected to have fiscal revenue growth of over 20% compared to 2020, and 7 provinces exceeding 500 billion yuan, including 2 provinces surpassing 1 trillion yuan [2] Expenditure and Structural Optimization - National public budget expenditure is projected to exceed 136 trillion yuan over five years, an increase of 26 trillion yuan or 24% compared to the "13th Five-Year Plan" [2] - The expenditure structure has been optimized, with more funds directed towards significant development and livelihood projects [2] Macroeconomic Regulation - Fiscal macro-control has become more proactive, enhancing adaptability to economic conditions, and has played a crucial role in supporting stable and healthy economic development [3] - The government has implemented counter-cyclical adjustments to smooth short-term fluctuations, with a package of policies introduced in late September last year to stabilize the economy [3] Social Welfare and Public Services - Total fiscal investment in the livelihood sector during the "14th Five-Year Plan" is nearly 100 trillion yuan, with over 70% of national public budget expenditure allocated to this area [4] - Education spending is projected at 20.5 trillion yuan, social security and employment at 19.6 trillion yuan, and health care at 10.6 trillion yuan [4] Enhancements in Public Services - The standard for resident medical insurance subsidies has increased from 580 yuan to 700 yuan per person per year, and both rural and urban minimum living standards have risen by approximately 20% [4] - The scale of equalization transfer payments is expected to grow from 1.9 trillion yuan in 2021 to 2.7 trillion yuan by 2025, averaging a 9.6% annual increase [4] Support for Employment and Consumption - The central government has allocated 318.6 billion yuan for employment support, a 29% increase from the "13th Five-Year Plan," resulting in over 50 million new urban jobs [7] - Fiscal support for consumption has included approximately 420 billion yuan for trade-in programs, leading to over 2.9 trillion yuan in sales [7] Investment in Infrastructure - Over the past five years, 19.4 trillion yuan in local government special bonds have been allocated to support 150,000 construction projects, alongside 3.33 trillion yuan for central budget investments in infrastructure [8] - The government aims to stimulate effective investment and consumption through innovative fiscal and tax policy tools, tapping into the vast potential of domestic demand [8]