聚焦稳增长三大主线 积极财政政策加力护航

Group 1: Tax-Free Policy and Consumption - The Ministry of Finance and four other departments announced a notification at the end of October, stating that from November 1, 2025, the tax-free shop policy will be improved, leading to a comprehensive upgrade from products to services and the business environment [1] - The new tax-free shopping policy in Hainan has shown significant results, with customs monitoring tax-free sales amounting to 1.325 billion yuan as of November 17, representing a year-on-year increase of 28.52% [1] - The expansion of tax-free shops and policies like trade-in incentives are expected to inject strong momentum into year-end consumption, focusing on accurately activating demand [1] Group 2: Support for Technological Innovation - Fiscal policy has become an important support for the development of technological innovation, with structural tax reductions and fee cuts being key measures to strengthen the role of enterprises in innovation [2] - In the first eight months of this year, tax reductions, fee cuts, and refunds supporting the manufacturing sector reached 1.2925 trillion yuan [2] - Local governments are actively establishing investment funds to support innovation, with the Jiaxing municipal government planning to set up a 10 billion yuan investment mother fund to create a comprehensive fund matrix [2] Group 3: Investment in People's Livelihood - The central government has allocated 1.16 billion yuan in subsidies for elderly care service consumption to support pilot projects in regions like Liaoning, Zhejiang, and Chongqing [4] - The central government has also provided a 3,600 yuan subsidy for childcare to families, reflecting a strong commitment to improving living standards [4] - In the first ten months of this year, the national general public budget expenditure reached 22.6 trillion yuan, with social security, education, and health expenditures growing faster than the average growth rate of 2% [4] Group 4: Focus on People's Livelihood in Fiscal Policy - The Minister of Finance emphasized the need to combine investment in material goods with investment in people to meet diverse public needs and stimulate domestic demand [5] - The "14th Five-Year Plan" highlights the importance of increasing fiscal spending on people's livelihood, addressing issues in education, healthcare, elderly care, and childcare to enhance residents' happiness and consumption capacity [5]