Group 1 - The central departments of China have publicly disclosed their 2024 annual financial statements, marking the 15th consecutive year of such transparency [1] - The disclosure includes revenue and expenditure statements, as well as detailed reports on "three public" expenditure, enhancing public oversight and understanding of fiscal management [1][4] - The Ministry of Finance aims to improve budget performance and transparency through a series of measures, including the establishment of a regular performance evaluation mechanism for major policies and projects [2][3] Group 2 - In 2024, the central government's "three public" expenditure totaled 4.054 billion yuan, an increase of 182 million yuan from 2023, primarily due to increased diplomatic activities [4] - The government procurement process has been made more transparent, with the Ministry of Finance ensuring that procurement information is publicly available for the tenth consecutive year [4]

Group 1 - The Ministry of Finance announced the legislative work plan for 2025, which includes the implementation of the Value-Added Tax (VAT) Law, modifications to the Budget Law, and revisions to the Asset Evaluation Law [1][2][3] - The VAT Law, which is set to take effect on January 1, 2026, will elevate the VAT from a temporary regulation to a formal law, maintaining the overall stability of the VAT system and tax burden [1] - The implementation regulations for the VAT Law are urgent to ensure its smooth execution, with the State Administration of Taxation indicating plans to expedite these regulations this year [1] Group 2 - The Budget Law is proposed for revision, but the likelihood of this occurring this year is low as it was not explicitly mentioned in the legislative plans [2] - The focus of the Budget Law revision will be on enhancing budget management, integrating fiscal resources, and improving transparency in fiscal operations [2] - The Asset Evaluation Law, originally implemented in 2016, is due for revision to address issues arising from economic development and regulatory changes, with the Ministry of Finance working on this [3] Group 3 - The legislative work plan also includes proposals for reviewing drafts of the Telecommunications Law, Consumption Tax Law, and amendments to the Tax Collection Management Law [4] - The National People's Congress plans to review projects including the Consumption Tax Law and modifications to the Certified Public Accountant Law [4]