Core Viewpoint - Yunnan Province aims to address fiscal imbalances, debt issues, and risks related to basic livelihood guarantees through comprehensive fiscal and tax reforms by 2028, focusing on stabilizing local finances and optimizing revenue and expenditure structures [1][6]. Fiscal Health - The government plans to enhance revenue by improving income collection, tapping into state-owned resources, and increasing contributions from state-owned enterprises [1][2]. - A comprehensive inventory of state-owned resources will be conducted to manage assets effectively and mobilize financial resources [2][4]. Debt Management - The province faces significant debt repayment pressures, with a focus on preventing new hidden debts and managing existing liabilities through dual control mechanisms for state-owned enterprise debt [5][6]. - As of the end of 2024, the local government debt is projected to be 16,319.2 billion, well within the limit of 18,552.4 billion [6]. Development Finance - The reforms emphasize promoting economic development as a solution to fiscal challenges, with incentives for local governments based on their contributions to fiscal revenue and high-quality development [7][10]. - A structured approach to industry funding will be established, including a three-tiered fund system to support industrial growth [7]. Social Welfare Finance - The government aims to enhance basic livelihood funding while ensuring fiscal sustainability by avoiding excessive commitments and over-coverage [9][10]. - A differentiated support system will be implemented for border and ethnic regions to address regional disparities [9]. Efficiency and Governance - The reforms will include zero-based budgeting and improved performance management to enhance fiscal governance and efficiency [9][10]. - The overall strategy aims for a coordinated approach to fiscal health, risk management, social welfare, and governance effectiveness [10].