锐财经丨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 effectiveness, with fiscal policy playing a crucial role in national governance and economic stability [1][2]. Fiscal Strength and Revenue Growth - During the "14th Five-Year Plan," the national general 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 - The total general public budget expenditure is projected to exceed 136 trillion yuan, 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 Policy and Economic Growth - Fiscal policy has become more proactive and precise, supporting stable and healthy economic development [2][3]. - The average economic growth rate over the past four years has been 5.5%, contributing approximately 30% to global economic growth [3]. Social Welfare and Public Services - The general public budget has allocated 20.5 trillion yuan for education, 19.6 trillion yuan for social security and employment, 10.6 trillion yuan for health, and 4 trillion yuan for housing security, totaling nearly 100 trillion yuan for social welfare [4]. - Over 70% of the general public budget expenditure has been directed towards social welfare, benefiting the populace directly [4]. Healthcare and Education Initiatives - The per capita financial subsidy for residents' medical insurance has increased from 580 yuan to 700 yuan, with rural and urban minimum living standards raised by approximately 20% [4][5]. - All compulsory education students are exempt from miscellaneous fees and receive free textbooks, with around 20 million economically disadvantaged students receiving living subsidies [5]. Domestic Demand Expansion Strategies - The Ministry of Finance has implemented a series of policies to stimulate domestic demand, including employment subsidies and support for consumption [6]. - Central fiscal employment support funds have reached 318.6 billion yuan, a 29% increase from the "13th Five-Year Plan," resulting in over 50 million new urban jobs [6]. Investment and Infrastructure Development - Over the past five years, 19.4 trillion yuan in local government special bonds have been allocated to support 150,000 construction projects [7]. - The Ministry of Finance plans to innovate fiscal and tax policy tools to stimulate consumption and expand effective investment, tapping into the vast potential of domestic demand [7].