Group 1 - The core viewpoint emphasizes the need for proactive fiscal policies to support economic stability and growth, leveraging both existing and new financial tools [1][3][4] - Fiscal revenue showed a slight increase of 0.5% year-on-year, amounting to 16.39 trillion yuan, while fiscal expenditure rose by 3.1% to 20.81 trillion yuan in the first three quarters [1] - The overall economic performance is improving, with GDP growth recorded at 5.2% year-on-year, driven by strong manufacturing investment, particularly in high-tech sectors [1][2] Group 2 - Fiscal spending remains robust, particularly in social welfare, education, and healthcare, with growth rates in these areas exceeding the average spending growth, marking the highest levels in three years [2] - The government is focusing on policies that enhance consumer spending and improve living standards, such as subsidies for child-rearing and free preschool education [2] - There is a noted slowdown in the growth rate of broad fiscal revenue and expenditure, necessitating continued efforts to ensure adequate funding for essential services [3] Group 3 - The government plans to introduce new financial tools and policies to address potential risks, including hidden debts and overdue payments to businesses, while ensuring the "three guarantees" for local governments [4] - The issuance of special bonds and long-term treasury bonds is expected to support infrastructure investment in the upcoming quarters [4] - Coordination between fiscal policy and other macroeconomic policies is crucial to sustain the positive economic momentum [4]
保持财政政策取向不变力度不减
Sou Hu Cai Jing·2025-11-19 22:43