10·12财政部新闻发布会点评：增量财政政策“未完待续”

Group 1: Fiscal Policy Insights - The Ministry of Finance expressed a commitment to enhance counter-cyclical fiscal policy and achieve annual budget goals[2] - Specific measures include debt reduction, improving people's livelihoods, and utilizing debt funds effectively[2] - The report indicates that the completion of annual budget goals may not strictly adhere to revenue and expenditure growth targets, but rather through supplementary financial resources[2] Group 2: Debt and Economic Support - A significant increase in local debt limits is anticipated to support debt reduction, allowing local governments more financial capacity for development[2] - The largest debt support policy in recent years is expected to be introduced, aimed at replacing local hidden debts[2] - Fiscal tools will be employed to stabilize the real estate market, including allowing special bonds for idle land recovery and adjusting tax policies[2] Group 3: Social Welfare and Consumption - Fiscal funds will increasingly focus on social welfare, which is expected to stabilize domestic demand and promote consumption[2] - Measures include raising the minimum standard for urban and rural residents' basic pensions and enhancing poverty alleviation efforts[2] - The government aims to address insufficient domestic demand from the income side, positively impacting consumer confidence[2] Group 4: Future Policy Directions - The report emphasizes that incremental fiscal policies are "not yet complete," with more policies under consideration[2] - The upcoming meetings in late October and December will be crucial for clarifying fiscal scale and expenditure directions[2] - The 2025 government work report will determine the deficit ratio and the scale of long-term special bonds[2]