Core Viewpoint - Pakistan is expected to increase its defense spending while reducing its overall budget in the upcoming fiscal year, amidst economic growth initiatives and challenges from international obligations and tariffs [1] Group 1: Budget Overview - The government is likely to present a budget of 17.6 trillion rupees (approximately 62.45 billion USD) for the new fiscal year starting July 1, which represents a 6.7% decrease from the current fiscal year [1] - The projected fiscal deficit is expected to be 4.8% of GDP, with a target of 5.9% for the fiscal year 2024-25 [1] Group 2: Defense Spending - Analysts anticipate a 20% increase in the defense budget, which may be offset by cuts in research and development expenditures [1]

Core Points - The company aims to enhance financial management, standardize financial behavior, improve economic efficiency, and protect the rights of stakeholders for sustainable development [1][2][3] Financial Management System - The financial management work follows a unified management and hierarchical responsibility principle, with each level and position fulfilling their respective financial management duties [4][5] - The legal representatives of the company and its subsidiaries are ultimately responsible for the financial management work, ensuring the authenticity, legality, and completeness of accounting data [5][6] - Daily financial management is led by the general manager, with the financial officer responsible for organizing and implementing financial management tasks [6][7] Accounting Policies - The company adheres to the accounting standards issued by the Ministry of Finance of the People's Republic of China [11][12] - The accounting year is based on the calendar year, from January 1 to December 31 [12] - The company uses Renminbi as its accounting currency and follows the accrual basis for accounting [13][14] Budget Management - The company implements budget management and has established a budget management specification [16][17] - Budget content includes business, investment, financing, and financial budgets, with a structured process for preparation and execution [18][19] - Each company must establish a budget execution reporting system to track and address deviations from the budget [20][21] Accounts Receivable Management - Accounts receivable include amounts due from customers for goods sold and services rendered, with a focus on credit risk management [23][24] - The marketing department is responsible for managing customer credit and collecting receivables according to the annual budget plan [25][26] - The financial department supervises accounts receivable management and ensures timely recognition and recording of receivables [27][28] Inventory Management - Inventory includes physical assets held for sale or consumption, with a clear management structure [31][32] - The company employs a perpetual inventory system and conducts regular inventory counts [33][34] - The goal is to maintain optimal inventory levels to reduce capital occupation while ensuring normal operations [35] Fixed Asset Management - Fixed assets are defined as tangible assets used for production, services, or management with a lifespan exceeding one accounting year [36][37] - The company has established fixed asset management specifications to ensure the safety and effective use of these assets [38][39] - Regular audits and checks are conducted to maintain accurate records of fixed assets [40][41] Investment Management - The company has a major investment decision-making system to control investment risks [42][43] - Investments are categorized into short-term and long-term, with a focus on liquidity, risk, and return [44][45] - Major investment projects follow a structured management system from initiation to post-evaluation [46][47] Asset Impairment Loss Management - Asset impairment refers to situations where market value falls below book value, with specific provisions for various asset types [48][49] - The company conducts annual impairment testing and prepares necessary provisions based on accounting standards [50][51] Financing Management - Financing activities align with the company's long-term strategic goals, focusing on efficiency and cost control [54][55] - Financing includes debt, equity, and hybrid financing methods, each requiring adherence to governance procedures [56][57] Profit Distribution - Profit distribution follows national laws and company regulations, ensuring returns to shareholders while supporting business development [60][61] - The annual profit distribution plan requires approval from the board and shareholders [62][63] Financial Reporting and Analysis - Financial reports summarize the company's financial status, operational results, and cash flows, including various types of reports [65][66] - The company establishes a financial report analysis mechanism to improve management and efficiency [67][68] Accounting Information Management - The company utilizes accounting software for financial management and ensures data security and confidentiality [69][70] - IT departments are responsible for maintaining the stability and security of accounting information systems [71][72] Accounting Archives Management - Accounting archives are crucial for documenting economic activities, with specific requirements for archiving and management [74][75] - The financial department oversees the management of accounting archives, ensuring compliance with relevant regulations [76][77]

国家发改委：预计今年支持社会事业的中央预算内投资规模将比"十三五"末提高30%以上 金十数据6月10日讯，国家发展改革委副秘书长肖渭明在国新办新闻发布会上表示，"十四五"以来，国 家发展改革委按照党中央、国务院决策部署，不断加大民生建设投入。特别是从2024年起，我们在"两 重"建设、"两新"工作中加力支持了一批社会事业标志性工程建设，中央预算内投资支持社会事业的比 重持续提高，预计今年支持社会事业的中央预算内投资规模将比"十三五"末提高30%以上。在组织实 施"硬投资"项目的同时，我们加快出台落实"软建设"举措，完善"项目+政策"双轮驱动，推动以投资换 机制，努力做到补短板、扩内需、惠民生效应充分显现。 （中国网） ...

Core Viewpoint - The National Development and Reform Commission (NDRC) anticipates a more than 30% increase in central budget investment for social undertakings compared to the end of the 13th Five-Year Plan [1] Group 1: Investment Plans - The NDRC will accelerate the implementation of "soft construction" measures alongside "hard investment" projects [1] - The investment strategy will focus on a dual approach of "projects + policies" to drive growth [1] Group 2: Economic Goals - The aim is to address shortcomings, expand domestic demand, and enhance the benefits to people's livelihoods [1]

美国总统特朗普：我认为预算法案会很快通过。如果预算法案花的时间比目标长一点，也没关系。 ...

美国总统特朗普宣称：即便预算草案（在国会山获得通过）所需要的时间更长一些，那也没什么关系。 我认为，预算草案能"相当迅速"地获得批准。 ...

加拿大总理卡尼：不打算为了军事预算而增税。 ...

Core Points - The article discusses the internal divisions within the Republican Party regarding the proposed "Big Beautiful" tax and spending bill, which is over 1,000 pages long and has passed the House with a narrow margin [1] - The Congressional Budget Office (CBO) estimates that the bill will increase the national debt by $2.4 trillion over the next decade, with total costs potentially reaching $5 trillion if certain tax cuts are made permanent [1][2] - The bill could push federal debt to $46.9 trillion by 2029, more than double the $20.2 trillion debt level when Trump took office in 2017 [1][2] Internal Divisions - Republican senators are divided on key issues such as debt, healthcare cuts, and state interests, with 53 senators expressing differing opinions [1][2] - Some fiscal hawks within the party believe the bill does not adequately address the budget deficit, with Senator Ron Johnson expressing his concerns directly to Trump [2] - Medicaid cuts have become a major point of contention, with proposed stricter eligibility requirements affecting over 70 million low-income and disabled individuals [2][3] State Interests - Local interests complicate negotiations, with concerns raised by senators from various states regarding the impact of proposed changes on state projects and tax structures [5] - The proposed increase in the state and local tax deduction cap has sparked intense debate among senators from high-tax states versus those from lower-tax states [5] Legislative Timeline - The approaching July 4 deadline adds urgency to the negotiations, with the Republican Party needing to find a balance among its internal divisions to advance the legislation [6] - The slim majority in the Senate (53-47) and the House (220-212) means that any small opposition could derail the bill [6]

Core Viewpoint - The South Korean President Lee Jae-myung has called for the rapid preparation of a supplementary budget to support economic recovery and stimulate consumption [1] Group 1: Economic Context - The newly appointed President Lee Jae-myung has prioritized economic recovery and established an emergency economic task force composed of government officials [1] - Concerns over the impact of U.S. tariffs have led to stagnation in exports and consumption, resulting in expectations for interest rate cuts and an economic contraction in South Korea [1] Group 2: Budget Details - If the additional budget is finalized under President Lee's leadership, it will increase the previously approved supplementary budget of 13.8 trillion Korean won (approximately 9.7 billion USD) from May 1 [1] - During his campaign, President Lee emphasized the necessity of an additional budget to provide short-term economic stimulus [1]

在一些经济学家看来，重返白宫后的"特朗普2.0时代"国债发行与预算赤字将比官方预测高得多，主要因特朗普领导的新一届政府以"对内减税+对外加征关 税"为核心的促经济增长与保护主义框架，叠加愈发庞大的预算赤字与美债利息，美国财政部发债规模可能被迫在"特朗普2.0时代"比花钱如流水的拜登政府 愈发扩张，加之"逆全球化"之下中国与日本可能大幅减持美债，"期限溢价"势必较以往愈发高企。 智通财经APP了解到，全球投资者们对长期限美国政府债的抵触情绪，正在让本应"例行公事"的美国国债拍卖事件成为华尔街投资机构乃至全球投资者本周 最期待的经济大事件之一。 随着投资者们对于美国预算赤字将因"大而美"法案所包含的庞大减税举措以及未来愈发庞大债息支出而持续升温，对于美债的需求也在趋于疲软，近期美债 拍卖收益率以及标售倍数持续低于市场预期。因此本周长期限美债拍卖可能令"期限溢价"大幅飙升，进而使得曾经令投资者们闻风丧胆的"期限溢价"重返聚 光灯之下，可能推动股债市场再度剧烈震荡。 据了解，美国财政部周四将发行220亿美元、期限长达30年的美国长期限国债，作为美国政府常规融资的一部分。不过，由于市场对于长期限美债(即10-30 年期 ...