国务院新闻办公室9月12日举行"高质量完成'十四五'规划"系列主题新闻发布会，财政部部长蓝佛安表 示，"十四五"时期，国家财政实力持续增强，效能不断提升，财政作为国家治理基础和重要支柱的作用 进一步凸显，为推动党和国家事业行稳致远提供了坚实的保障，为满足人民群众美好期盼提供了坚强的 支撑。 "国家财政实力大大增强，集中财力办成许多大事要事。"蓝佛安介绍，一方面，收入"蛋糕"越来越 大。"十四五"时期，全国一般公共预算收入预计达106万亿元，比"十三五"时期增加17万亿元，增长约 19%。地方财政实力稳步壮大，从2024年数据看，16个省份财政收入比2020年增长20%以上。另一方 面，支出强度前所未有。全国一般公共预算支出5年预计超136万亿元，比"十三五"时期增加26万亿元， 增长24%。 "十四五"时期，全国财政科技支出预计达5.5万亿元，比"十三五"时期增长34%，资金重点投向基础研 究、应用基础研究和国家战略科技任务。其中基础研究累计投入达7300亿元，年均增长12.3%。财政投 入带动全社会研发投入快速增长，投入强度从"十三五"期末的2.41%提高到2024年的2.68%，研发投入 规模稳居世界第二 ...

Core Insights - The fiscal strength of the country has significantly increased since the "14th Five-Year Plan," with a notable enhancement in the structure of fiscal expenditures and proactive macroeconomic regulation [1][2] - The total public budget revenue is expected to reach 106 trillion yuan, an increase of 17 trillion yuan or approximately 19% compared to the "13th Five-Year Plan" [1] - The total public budget expenditure is projected to exceed 136 trillion yuan, marking an increase of 26 trillion yuan or 24% compared to the previous five-year period [1] Fiscal Policy and Economic Growth - Fiscal policy has shifted from active to more proactive, becoming a crucial support for stable economic growth, with an average growth rate of 5.5% over the past four years [2] - The deficit ratio has increased from 2.7% to 3.8%, with a further rise to 4% this year, and new local government special bond quotas amounting to 19.4 trillion yuan have been arranged [2] - Over 10 trillion yuan in tax reductions and deferred payments have been implemented, expanding fiscal policy space [2] Focus on Domestic Demand - The Ministry of Finance aims to innovate fiscal and tax policy tools to stimulate consumption and expand effective investment, tapping into the potential of domestic demand [3] Social Welfare Investments - More than 70% of the national public budget expenditure is allocated to social welfare, with significant investments in education (20.5 trillion yuan), social security and employment (19.6 trillion yuan), health (10.6 trillion yuan), and housing security (4 trillion yuan) [4] - The central government has arranged nearly 50 trillion yuan in transfer payments to local governments over five years to strengthen financial support [5] Debt Management - The Ministry of Finance has effectively managed existing debt and curbed new debt, leading to a gradual reduction in hidden debt risks [7] - As of the end of August this year, 4 trillion yuan of the newly increased 6 trillion yuan special debt limit has been issued, with an average interest cost reduction of over 2.5 percentage points [8] - The total government debt is projected to be 92.6 trillion yuan by the end of 2024, with a debt-to-GDP ratio of 68.7%, indicating that the overall government debt level is within a reasonable range [8]

Group 1 - The Ministry of Finance has developed an implementation plan and annual work schedule for fiscal and tax system reform, which is essential for advancing comprehensive reforms in other areas [1][2] - The reform focuses on three aspects: enhancing efficiency through budget system reform, promoting high-quality development, social equity, and market unity through tax system reform, and driving fiscal system reform with clear responsibilities and regional balance [1][2] Group 2 - The Ministry emphasizes the importance of optimizing revenue, expenditure, and management, with a significant increase in the funds transferred to the general public budget, which is over ten times the amount during the 13th Five-Year Plan period [1] - The central government has allocated nearly 50 trillion yuan in transfer payments to local governments since the beginning of the 14th Five-Year Plan, supporting local implementation of central policies [2] - The Ministry has implemented various tax reforms, including the introduction of a special deduction for childcare and significant increases in deductions for elderly and child care, benefiting over 67 million people [2]

国务院新闻办公室9月12日举行"高质量完成'十四五'规划"系列主题新闻发布会。财政部部长蓝佛安介 绍"十四五"时期财政改革发展成效，并答记者问。 "十四五"时期全国一般公共预算收入预计达到106万亿元 蓝佛安在发布会上介绍，"十四五"时期，全国一般公共预算收入预计达到106万亿元，比"十三五"时期 增加17万亿元，增长约19%。地方财政实力稳步壮大，从2024年数据看，16个省份财政收入比2020年增 长20%以上；7个省份超5000亿元，其中2个省份超1万亿元。另一方面，支出强度前所未有。全国一般 公共预算支出五年预计超过136万亿元，比"十三五"时期增加26万亿元，增长24%。同时，结构不断优 化，更多"真金白银"投向了发展大事和民生实事。 财政部：统筹考虑防风险和促发展未来财政政策发力空间依然充足 蓝佛安12日在发布会上表示，财政政策统筹考虑防风险和促发展，始终留有后手，未来财政政策发力空 间依然充足。 具体来看，一是我国经济长期向好的趋势没有变，这决定了财政运行的基本盘始终是坚实稳固的。二是 这些年我们积累了越来越多的宏观调控经验，政策工具不断丰富，逆周期、跨周期调节能力大大增强。 三是随着重点领域风 ...

Core Viewpoint - The Chinese government emphasizes the importance of improving people's livelihoods through fiscal policies during the "14th Five-Year Plan" period, with a focus on high-quality development and direct financial support to citizens [1]. Fiscal Policy - The fiscal deficit rate has increased from 2.7% to 3.8%, and is expected to rise further to 4% this year [2]. - A special long-term bond issuance of 6 trillion yuan has been arranged to replace hidden debts, significantly alleviating local repayment pressures [2]. - An additional 500 billion yuan in special bonds is expected to stimulate approximately 6 trillion yuan in credit [2]. Tax and Budget Reforms - The central government's transfer payments to local governments have totaled nearly 50 trillion yuan during the "14th Five-Year Plan" [3]. - The scale of cross-provincial adjustments is projected to reach 253.3 billion yuan in 2024 [3]. - 14 out of 18 existing tax types have completed legislation [3]. Economic Stimulus - Central fiscal employment support funds amount to 318.6 billion yuan, with an overall fiscal contribution of about 420 billion yuan leading to over 2.9 trillion yuan in sales of various goods [5]. - Over 19.4 trillion yuan in local government special bonds have been arranged over five years to support 150,000 construction projects [5]. Technological Development - National fiscal spending on technology is expected to reach 5.5 trillion yuan, a 34% increase from the "13th Five-Year Plan" [7]. - The government has supported over 30,000 small and medium-sized technology enterprises with approximately 800 billion yuan in loans [7]. Education Funding - National fiscal education funding is projected to exceed 25 trillion yuan during the "14th Five-Year Plan," maintaining over 4% of GDP for over a decade [9]. - Approximately 1.1 trillion yuan has been allocated for transfer payments to enhance local education investments [9]. Debt Management - By the end of August, 4 trillion yuan of the newly increased 6 trillion yuan special debt limit has been issued [11]. - The total government debt is projected to be 92.6 trillion yuan by the end of 2024, with a manageable debt ratio [11]. Rural Development - Central fiscal funds for rural revitalization have increased from 156.5 billion yuan in 2021 to 177 billion yuan in 2025 [13]. - Rural residents in poverty-stricken areas have seen their per capita disposable income increase by nearly 40% over the "14th Five-Year Plan" period [13]. International Cooperation - The government is actively engaging in international financial cooperation, particularly in managing sovereign debt for developing countries [14]. - Efforts are being made to enhance the "Belt and Road" investment and financing system [14]. Financial Supervision - Strengthened supervision mechanisms are in place for the issuance of national bonds and local government debt management [16]. - A comprehensive supervision system has been established for central department budgets and transfer payment funds [16].

Core Viewpoint - The Chinese government emphasizes the importance of improving people's livelihoods while ensuring high-quality development during the "14th Five-Year Plan" period, with a significant focus on fiscal policies that directly benefit the public [1] Fiscal Policy and Budget Management - The scale of funds transferred from government funds and state-owned capital to the general public budget in the past four years is ten times that of the "13th Five-Year Plan" period [4] - The central government's transfer payments to local governments have totaled nearly 50 trillion yuan since the beginning of the "14th Five-Year Plan" [4] Support for Employment and Consumption - The central government allocated 318.6 billion yuan for employment support, which has driven sales of various goods exceeding 2.9 trillion yuan [7] - Approximately 4.2 trillion yuan has been allocated to support major technological equipment and innovative material products [7] Investment in Technology and Innovation - National fiscal spending on science and technology is expected to reach 5.5 trillion yuan, a 34% increase compared to the "13th Five-Year Plan" [9] - The government has supported over 30,000 small and medium-sized technology enterprises with approximately 800 billion yuan in loans [9] Education Funding - The proportion of national fiscal education funding to GDP has remained above 4% for over a decade, with an expected total of over 25 trillion yuan during the "14th Five-Year Plan" [11] - The government has arranged about 1.1 trillion yuan in transfer payments to enhance local investment in compulsory education [11] Debt Management - As of the end of August, 4 trillion yuan of the newly increased 6 trillion yuan special debt limit has been issued [13] - The total government debt is projected to be 92.6 trillion yuan by the end of 2024, with a reasonable debt ratio and controllable risks [13] Rural Development and Poverty Alleviation - The central fiscal funds for rural revitalization have increased from 156.5 billion yuan in 2021 to 177 billion yuan in 2025 [15] - The per capita disposable income of rural residents in poverty-stricken areas has increased by nearly 40% during the "14th Five-Year Plan" [15] International Financial Cooperation - The government is actively guiding the G20 on sovereign debt management for developing countries and enhancing the "Belt and Road" investment and financing system [17] Financial Supervision and Accountability - There is a strengthened supervision system focusing on the use of newly issued national bonds and local government debt management [19] - A comprehensive supervision system has been established for central department budgets and transfer payment funds [20]

Core Viewpoint - The article discusses the achievements and future directions of China's fiscal policy during the "14th Five-Year Plan" period, emphasizing the strengthening of fiscal capabilities, proactive macroeconomic adjustments, and a focus on improving people's livelihoods [3][4][5][6][10]. Group 1: Fiscal Strength and Achievements - National fiscal strength has significantly increased, with general public budget revenue expected to reach 106 trillion yuan, a 19% increase from the "13th Five-Year Plan" period [4]. - General public budget expenditure is projected to exceed 136 trillion yuan, marking a 24% increase, with a focus on optimizing the structure to support major development and livelihood projects [4]. - The fiscal policy has been actively adjusted to enhance economic stability, contributing to an average growth rate of 5.5% over the past four years, with a 30% contribution to global economic growth [5]. Group 2: Focus on People's Livelihoods - The fiscal budget allocates significant resources to education (20.5 trillion yuan), social security and employment (19.6 trillion yuan), healthcare (10.6 trillion yuan), and housing security (4 trillion yuan), totaling nearly 100 trillion yuan for livelihood investments [6]. - Initiatives such as 1 billion yuan for childcare subsidies and 200 million yuan for free preschool education demonstrate a commitment to addressing public concerns [6]. Group 3: Risk Management and Reform - The government has implemented measures to manage local government debt, with nearly 50 trillion yuan allocated for transfers to local governments, ensuring stable fiscal operations [6][8]. - Fiscal reforms focus on optimizing resource allocation, enhancing efficiency, and clarifying responsibilities between central and local governments [7][16]. Group 4: International Cooperation and Global Engagement - The Ministry of Finance is actively involved in international financial cooperation, participating in over 26 multilateral and bilateral financial dialogue mechanisms, and promoting global economic governance reforms [8][42]. - The Asian Infrastructure Investment Bank has reached 110 members and financed over 60 billion USD, showcasing China's commitment to global inclusive development [8]. Group 5: Future Directions - The Ministry of Finance aims to enhance macroeconomic regulation, deepen fiscal reforms, and improve fiscal management to support the goal of building a modern socialist country [9][10]. - The focus will be on expanding domestic demand, supporting technological self-reliance, and ensuring the sustainability of poverty alleviation efforts [20][23][38].

今天下午，国务院新闻办公室举行"高质量完成'十四五'规划"系列主题新闻发布会，财政部部长蓝佛安介绍了"十四五"时期财政改革发展成 效。 蓝佛安：未来财政政策发力空间依然充足 蓝佛安介绍， 财政政策统筹考虑防风险和促发展，始终留有后手，未来财政政策发力空间依然充足。 蓝佛安：财政部门将做好政策储备 主动靠前发力 蓝佛安表示，下一步财政部门将继续保持政策的连续性、稳定性，增强灵活性、预见性，加强对形势的前瞻研判，做好政策储备，主动靠前 发力，为经济社会高质量发展贡献财政力量。 蓝佛安：提前下达部分2026年新增地方政府债务限额 靠前使用化债额度 蓝佛安表示，"十五五"期间，我们将继续统筹好发展和安全，加快建立健全与高质量发展相适应的政府债务管理机制，在发展中化债、在化 债中发展，为经济行稳致远提供有力支撑。 第一，在存量上做减法。继续落实好一揽子化债举措，提前下达部分2026年新增地方政府债务限额，靠前使用化债额度，多措并举化解存 量隐性债务。 第二，在管理上做加法。严格地方政府债务限额管理，确保用得好、还得起、可持续。强化专项债"借用管还"全生命周期管理，推进隐性 债、法定债"双轨"合并管理，建立统一的长效监管 ...

今天（12日）下午，国务院新闻办公室举行"高质量完成'十四五'规划"系列主题新闻发布会。 蓝佛安：财政政策始终留有后手，未来财政政策发力空间依然充足 财政部部长蓝佛安9月12日在国新办"高质量完成'十四五'规划"系列主题新闻发布会上表示，财政政策统 筹考虑防风险和促发展，始终留有后手，未来财政政策发力空间依然充足。一是我国经济长期向好的趋势 没有变，这决定了财政运行的基本盘始终是坚实稳固的。二是这些年我们积累了越来越多的宏观调控的经 验，政策工具不断丰富密度周期，跨周期调节能力大大增强。三是随着重点领域风险防范制度机制进一步 健全，以及存量风险逐步消化，财政应对未来挑战更有底气、更加从容。 蓝佛安：财政部门将做好政策储备，主动靠前发力 蓝佛安表示，下一步财政部门将继续保持政策的连续性、稳定性，增强灵活性、预见性，加强对形势的前 瞻研判，做好政策储备，主动靠前发力，为经济社会高质量发展贡献财政力量。 蓝佛安："十四五"以来财政政策力度更加给力，财政赤字率从2.7%提高到今年4% 蓝佛安表示，"十四五"以来，财政政策力度更加给力。赤字率从2.7%提高到3.8%,今年进一步提高到 4%；安排新增地方政府专项债券额度 ...

Group 1 - The core viewpoint of the article emphasizes the significant achievements in fiscal reform and development during the "14th Five-Year Plan" period, highlighting the proactive fiscal policies that support economic stability and growth [1][2][6] - The national general public budget revenue is expected to reach 106 trillion yuan, an increase of 17 trillion yuan or approximately 19% compared to the "13th Five-Year Plan" period [1][6] - The national general public budget expenditure is projected to exceed 136 trillion yuan, an increase of 26 trillion yuan or 24% compared to the "13th Five-Year Plan" period, with more funds directed towards major development and livelihood projects [1][6] Group 2 - Fiscal macro-control has become more proactive and effective, enhancing the adaptability of fiscal policies to economic conditions, thus supporting stable and healthy economic development [2][7] - The average economic growth rate over the past four years has been 5.5%, contributing approximately 30% to global economic growth [2][7] - The central government has arranged nearly 50 trillion yuan in transfer payments to local governments over five years, ensuring local fiscal stability [2][3] Group 3 - The fiscal policy has been adjusted to enhance counter-cyclical regulation and support long-term development momentum, with a focus on expanding domestic demand and promoting economic circulation [2][7] - The deficit ratio has increased from 2.7% to 3.8%, with further increases planned, and new local government special bond quotas of 19.4 trillion yuan have been arranged [2][15] - More than 10 trillion yuan has been allocated for tax reductions and refunds [2][15] Group 4 - The fiscal system reform aims to clarify responsibilities and enhance coordination between central and local finances, promoting regional balance [3][24] - The transfer payment system has been optimized to support high-quality development and ecological protection [3][24] - The central government has provided nearly 50 trillion yuan in transfer payments to local governments since the beginning of the "14th Five-Year Plan" [3][24] Group 5 - The fiscal policy has a clear focus on improving people's livelihoods, with significant allocations for education, social security, and healthcare [8][36] - The total fiscal expenditure for education is expected to exceed 25 trillion yuan during the "14th Five-Year Plan" period, representing a growth of approximately 38% compared to the "13th Five-Year Plan" [36] - The government has implemented various measures to enhance educational equity and quality, including increased funding for rural education and teacher training [36][38]