Core Viewpoint - The article emphasizes the importance of proactive fiscal policy in driving China's modernization and economic development, as outlined in the 20th Central Committee's Fourth Plenary Session [1]. Group 1: Achievements of Fiscal Policy - Since the new era, China's fiscal policy has been adjusted based on changing circumstances, leading to significant achievements, including a 24% increase in general public budget expenditure during the "14th Five-Year Plan" period, totaling over 136 trillion yuan [2]. - More than 70% of national fiscal expenditure is directed towards people's livelihoods, with nearly 10 trillion yuan allocated for social welfare over five years [2]. Group 2: Key Strategies for Fiscal Policy - Emphasis on coordinating counter-cyclical and cross-cyclical adjustments to address structural and deep-seated economic issues while enhancing long-term development potential [3]. - Focus on both supply-side and demand-side management, utilizing tax policies and government procurement to support the modern industrial system and stimulate consumption [3]. - Innovation in fiscal tools, such as the use of ultra-long special government bonds and fiscal subsidies, to enhance the effectiveness of fiscal policy [3]. - Strengthening policy coordination to ensure alignment with national development plans and enhance the overall effectiveness of fiscal measures [3]. Group 3: Goals for the "15th Five-Year Plan" Period - The "15th Five-Year Plan" period is critical for achieving socialist modernization, requiring effective responses to complex domestic and international challenges [4]. - Fiscal policies will focus on providing robust support for key strategic goals, ensuring adequate funding and resource allocation to high-quality development areas [5]. Group 4: Expanding Domestic Demand - The construction of a strong domestic market is a priority, with fiscal measures aimed at boosting consumption and effective investment [6]. - Strategies include enhancing consumer spending through subsidies and increasing long-term consumption capacity by improving income levels [6]. - Effective investment will be directed towards strategic projects that enhance overall productivity, with an emphasis on preventing inefficient investments [6]. Group 5: Fiscal Reform and Management - The need for a high-level socialist market economy requires a balance between market freedom and effective fiscal regulation [8]. - Focus on optimizing resource allocation and improving fiscal management through zero-based budgeting and enhancing the efficiency of fund usage [9]. - Emphasis on balancing efficiency and equity in tax policies to promote high-quality development and social fairness [9].

Group 1 - The core viewpoint emphasizes the importance of active fiscal policy as a foundation for national governance and economic development, particularly in the context of the "14th Five-Year Plan" and the upcoming "15th Five-Year Plan" [1][4] - The Ministry of Finance has recognized the effectiveness of active fiscal policies in recent years, highlighting a 24% increase in general public budget expenditure, which is expected to exceed 136 trillion yuan during the "14th Five-Year Plan" [2][4] - Over 70% of national fiscal expenditure is directed towards people's livelihoods, with nearly 10 trillion yuan allocated for social welfare over the past five years [2][4] Group 2 - The Ministry of Finance plans to enhance counter-cyclical and cross-cyclical adjustments to address structural and deep-seated economic issues, thereby boosting long-term development potential [3][4] - The focus will be on both supply-side and demand-side management, utilizing tax policies and government procurement to support the modern industrial system and stimulate consumption [3][6] - The Ministry aims to innovate fiscal tools, such as long-term special government bonds and fiscal subsidies, to improve the effectiveness of fiscal policies [3][4] Group 3 - The "15th Five-Year Plan" will prioritize expanding domestic demand, with strategies to boost consumption and effective investment, while also promoting a unified national market [6][7] - The Ministry of Finance will work on optimizing resource allocation and enhancing fiscal management, including zero-based budgeting reforms to improve fund utilization [9] - There will be a focus on balancing efficiency and equity in tax policies, as well as strengthening the fiscal relationship between central and local governments [9]

Core Viewpoint - The article emphasizes the importance of proactive fiscal policy in driving high-quality development and achieving Chinese-style modernization, as outlined in the 15th Five-Year Plan proposed by the 20th Central Committee of the Communist Party of China [1][2]. Fiscal Policy Implementation - The fiscal policy has maintained a proactive stance since the 14th Five-Year Plan, with adjustments made according to changing circumstances, including an increase in the deficit ratio from 2.7% to 3.8%, and further to 4% this year [1][2]. - New local government special bond quotas amounting to 19.4 trillion yuan have been arranged, alongside over 1 trillion yuan in new tax reductions and deferred payments, expanding fiscal policy space [1][2]. Achievements During the 14th Five-Year Plan - The total public budget expenditure is expected to exceed 136 trillion yuan, a 24% increase compared to the 13th Five-Year Plan, with over 70% of fiscal spending directed towards people's livelihoods, totaling nearly 10 trillion yuan in social welfare investments [2][3]. - The ability to respond to risks and challenges has strengthened, providing a more solid foundation for safe development [2]. Strategic Focus for the 15th Five-Year Plan - The 15th Five-Year Plan is seen as a critical period for achieving socialist modernization, with a focus on adapting to complex domestic and international changes, including rising unilateralism and protectionism [3][4]. - The fiscal department aims to enhance the effectiveness of fiscal policies and macroeconomic regulation to better support high-quality development [3][4]. Key Areas of Fiscal Policy Action - The fiscal policy will focus on three main areas to support domestic market construction: boosting consumption, expanding effective investment, and promoting a unified market [5][6]. - Specific measures include using fiscal subsidies and tax adjustments to enhance consumer spending, optimizing government investment towards strategic projects, and improving the fiscal system to eliminate market fragmentation [5][6]. Fiscal Reform and Management - The establishment of a high-level socialist market economy requires a balance between market freedom and effective regulation, with fiscal funds directed towards public goods and areas with high social returns [6]. - The focus will be on optimizing resource allocation, enhancing tax systems, and ensuring a sustainable fiscal environment while promoting both development and safety [6].

Core Viewpoint - The article emphasizes the importance of proactive fiscal policy in driving high-quality development and modernizing China's economy, as outlined in the 20th Central Committee's proposals for the 15th Five-Year Plan [1][2]. Group 1: Fiscal Policy Implementation - Fiscal policy has maintained a proactive stance since the 14th Five-Year Plan, with the deficit rate increasing from 2.7% to 4% and the issuance of new local government special bonds amounting to 19.4 trillion yuan [1][2]. - The total public budget expenditure is expected to exceed 136 trillion yuan during the 14th Five-Year Plan, marking a 24% increase compared to the previous plan, with over 70% of fiscal spending directed towards people's livelihoods [2][3]. Group 2: Strategic Focus for the 15th Five-Year Plan - The 15th Five-Year Plan will focus on enhancing fiscal policy effectiveness in response to complex domestic and international challenges, including geopolitical tensions and economic uncertainties [3][4]. - Key strategies include ensuring sufficient fiscal strength, precise targeting of investments in high-quality development areas, and promoting policy coordination across various sectors [5][6]. Group 3: Domestic Market Development - The construction of a strong domestic market is identified as a strategic priority, with fiscal measures aimed at boosting consumption, increasing effective investment, and advancing the establishment of a unified market [6][7]. - Specific actions include leveraging fiscal subsidies and tax adjustments to enhance consumer spending and optimizing government investments to support strategic projects [6][7]. Group 4: Fiscal Reform and Management - The establishment of a high-level socialist market economy requires a balance between effective market mechanisms and appropriate fiscal regulation, focusing on public goods and minimizing direct government intervention [8][9]. - The emphasis will be on optimizing resource allocation, enhancing fiscal management, and ensuring a sustainable fiscal framework that aligns with high-quality development goals [9].

Core Viewpoint - The article emphasizes the importance of implementing proactive fiscal policies to support China's economic development and modernization goals during the 14th Five-Year Plan period, highlighting the need for effective macroeconomic management and governance [2][3][4]. Group 1: Implementation of Proactive Fiscal Policies - The central government has continuously adjusted fiscal policies in response to changing economic conditions, focusing on targeted support for key sectors and weak links to ensure stable economic growth [3][4]. - The average economic growth rate in China is projected to be around 5.5% from 2021 to 2024, with over 12 million new urban jobs created annually [4]. - The total public budget expenditure during the 14th Five-Year Plan period is expected to exceed 136 trillion yuan, supporting various national strategies such as rural revitalization and regional coordinated development [4]. Group 2: Key Strategies for Fiscal Policy - The article outlines several key strategies for effective fiscal policy implementation, including: 1. Coordinating counter-cyclical and cross-cyclical adjustments to enhance long-term development potential [5]. 2. Balancing supply-side and demand-side management to foster a dynamic equilibrium between supply and demand [5]. 3. Innovating fiscal tools and reforming the fiscal and tax system to improve policy effectiveness [5]. 4. Strengthening policy coordination and integrating fiscal policies with national development plans [5]. 5. Managing expectations to enhance market confidence through transparent and predictable policy measures [5]. Group 3: Addressing Challenges and Risks - The article identifies the complex domestic and international challenges facing fiscal policy, including geopolitical tensions and economic uncertainties, necessitating a proactive approach to enhance fiscal effectiveness and governance [6][9]. - Emphasis is placed on the need for a robust fiscal framework to manage local government debt risks and ensure sustainable fiscal development [13]. Group 4: Focus on Social Welfare and Development - The article stresses the importance of directing fiscal resources towards social welfare, ensuring that public finance serves the needs of the people and addresses their diverse demands [7][10]. - It highlights the commitment to improving living standards, supporting education, healthcare, and social security systems, and promoting rural revitalization [11][12]. Group 5: Future Directions - The article outlines future directions for fiscal policy, including expanding domestic demand, supporting technological self-reliance, and enhancing urban-rural integration [10][11][12]. - It calls for deepening reforms in fiscal management and supervision to improve governance efficiency and ensure that fiscal policies effectively contribute to high-quality development [12][13].