吉富星：保持财政政策取向不变力度不减

Core Viewpoint - The article emphasizes the importance of proactive fiscal policies in sustaining economic growth and addressing social welfare needs, highlighting the need for both existing and new fiscal tools to enhance policy effectiveness [1][3][4]. Fiscal Revenue and Expenditure - In the first three quarters of this year, the national general public budget revenue reached 16.39 trillion yuan, a year-on-year increase of 0.5%, while general public budget expenditure was 20.81 trillion yuan, up 3.1% year-on-year [1]. - The growth in fiscal revenue is a positive indicator of overall economic improvement, with tax revenue showing consistent growth due to factors such as the performance of emerging industries and increased industrial profits [1][2]. Focus on Social Welfare - Fiscal spending has been directed towards key areas, particularly in social welfare, with significant increases in expenditures for social security, education, and health care, all reaching their highest growth rates in three years [2]. - Policies aimed at enhancing consumer spending, such as subsidies for child-rearing and free preschool education, are being progressively implemented to support the population [2]. Challenges and Future Outlook - Despite the positive trends, there is a noted slowdown in the growth rate of broad fiscal revenue and expenditure, necessitating continued efforts to ensure adequate spending [3]. - The reliance on fiscal revenue growth and government bond issuance for maintaining spending levels poses risks, especially if external uncertainties impact economic performance [3][4]. - The government plans to introduce new financial tools and policies to support local debt repayment and enhance effective investment, particularly in infrastructure, to sustain economic momentum [4].