Core Viewpoint - The news highlights the achievements and ongoing reforms in China's fiscal policy during the "14th Five-Year Plan" period, emphasizing the strengthening of fiscal capacity and the focus on improving public welfare and economic stability [1][2][4]. Fiscal Strength and Growth - 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 [2]. - By 2024, 16 provinces are projected to see fiscal revenue growth of over 20% compared to 2020, with seven provinces exceeding 500 billion yuan, and two surpassing 1 trillion yuan [2]. - General public budget expenditure is expected to exceed 136 trillion yuan over five years, an increase of 26 trillion yuan or 24% compared to the previous plan [2]. Social Welfare and Public Services - Over 70% of national general public budget expenditure is allocated to social welfare, ensuring that modernization benefits all citizens [2]. - Basic pension insurance coverage exceeds 1.07 billion people, and basic medical insurance covers 1.327 billion individuals [2]. - The standard for resident medical insurance subsidies has increased from 580 yuan to 700 yuan per person annually, with rural and urban minimum living standards raised by approximately 20% [2]. Public Service Equity - The scale of equalization transfer payments is projected to grow from 1.9 trillion yuan in 2021 to 2.7 trillion yuan by 2025, with an average annual growth of 9.6% [3]. - All administrative villages have access to paved roads, with over 95% coverage for express delivery services and 94% for tap water [3]. - Approximately 20 million economically disadvantaged students receive living subsidies, and 13 million children of migrant workers have access to education funding [3]. Fiscal Policy and Economic Strategy - The fiscal deficit rate has increased from 2.7% to 3.8%, with a further rise to 4% planned for this year [4]. - New local government special bond quotas amount to 19.4 trillion yuan, with over 10 trillion yuan in tax reductions and refunds [4]. - Central fiscal employment support has reached 318.6 billion yuan, a 29% increase from the previous plan, contributing to over 50 million new urban jobs [5]. Innovation and R&D Investment - National fiscal spending on science and technology is expected to reach 5.5 trillion yuan, a 34% increase from the previous plan [6]. - Basic research funding has totaled 730 billion yuan, with an annual growth rate of 12.3% [6]. - R&D investment intensity is projected to rise from 2.41% at the end of the "13th Five-Year Plan" to 2.68% by 2024 [6]. Risk Management and Debt Control - Central fiscal transfers to local governments are projected to approach 50 trillion yuan over five years, ensuring financial stability [7]. - A legal debt management system has been established to address hidden debts, with a focus on reducing existing liabilities [7]. - By the end of 2024, total government debt is expected to reach 92.6 trillion yuan, with a debt-to-GDP ratio of 68.7%, indicating manageable risk levels [7]. Financing Platform Reforms - Over 60% of financing platforms are expected to exit by mid-2025, indicating significant progress in reducing hidden debts [8]. - The government aims to establish a debt management mechanism aligned with high-quality development during the "15th Five-Year Plan" [8].

Core Insights - The Chinese government has made significant progress in fiscal reform and development during the "14th Five-Year Plan" period, enhancing national fiscal strength and efficiency [1] Fiscal Strength and Growth - 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 [2] - By 2024, 16 provinces are projected to have fiscal revenue growth of over 20% compared to 2020, with 7 provinces exceeding 500 billion yuan, and 2 provinces surpassing 1 trillion yuan [2] - General public budget expenditure is expected to exceed 136 trillion yuan over five years, an increase of 26 trillion yuan or 24% compared to the previous period [2] Social Welfare and Public Services - Over 70% of national general public budget expenditure is allocated to social welfare, benefiting all citizens [2] - Participation in basic pension insurance has surpassed 1.07 billion people, and basic medical insurance coverage has reached 1.327 billion [2] - The standard for resident medical insurance subsidies has increased from 580 yuan to 700 yuan per person annually, with rural and urban minimum living standards raised by approximately 20% [2] Public Service Equity - The scale of equalization transfer payments is projected to grow from 1.9 trillion yuan in 2021 to 2.7 trillion yuan by 2025, with an average annual growth of 9.6% [3] - All administrative villages have access to paved roads, with express delivery service coverage exceeding 95% and tap water availability at 94% [3] Fiscal Policy and Economic Strategy - The fiscal deficit ratio has increased from 2.7% to 3.8%, with a further increase to 4% planned for this year [4] - New local government special bond quotas amount to 19.4 trillion yuan, with over 10 trillion yuan in tax reductions and refunds [4] - Employment support funding has reached 318.6 billion yuan, a 29% increase from the previous five-year period, contributing to over 50 million new urban jobs [5] Innovation and R&D Investment - National fiscal spending on science and technology is expected to reach 5.5 trillion yuan, a 34% increase from the previous period [6] - Basic research funding has totaled 730 billion yuan, with an annual growth rate of 12.3% [6] Risk Management and Debt Control - Central fiscal transfers to local governments are projected to approach 50 trillion yuan over five years, ensuring financial stability [7] - The total government debt is expected to reach 92.6 trillion yuan by the end of 2024, with a debt-to-GDP ratio of 68.7%, indicating manageable risk levels [7] - Over 60% of financing platforms have exited, indicating significant progress in reducing hidden debts [8]

Core Insights - The Chinese government has significantly enhanced its fiscal strength during the "14th Five-Year Plan" period, with a focus on improving efficiency and supporting national governance and public welfare [1][2]. Fiscal Strength Enhancement - 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 [2]. - General public budget expenditure is projected to exceed 136 trillion yuan, marking an increase of 26 trillion yuan or 24% from the previous period [2]. Focus on Public Welfare - Fiscal investment in the public welfare sector has approached 100 trillion yuan, accounting for over 70% of total general public budget expenditure [3]. - In the education sector, fiscal investment is expected to exceed 25 trillion yuan, representing a growth of around 38% compared to the "13th Five-Year Plan" [3]. Active Fiscal Policy - Fiscal policy has become more proactive and precise, enhancing its adaptability to economic conditions and supporting stable economic growth [4]. - National fiscal expenditure on technology is expected to reach 5.5 trillion yuan, a 34% increase from the previous five-year period, with a focus on basic research and strategic technology tasks [4]. Tax and Fiscal Reform - Fiscal and tax reforms are being advanced to better serve the modernization of the national governance system [5]. - Key reform focuses include optimizing resource allocation, enhancing efficiency and fairness, and improving the tax system to align with economic and social structures [6][7]. Risk Management - The government is actively managing risks in key areas, particularly in local government debt, with a focus on regular supervision and a legal debt management system [8]. - Central fiscal transfers to local governments are projected to be nearly 50 trillion yuan over five years, ensuring financial stability at the local level [8].

Core Insights - The article emphasizes the significant enhancement of national fiscal strength during the "14th Five-Year Plan" period, highlighting its role in supporting national governance and meeting public expectations [1][2]. Fiscal Strength Enhancement - 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 [2]. - General public budget expenditure is projected to exceed 136 trillion yuan, marking an increase of 26 trillion yuan or 24% compared to the previous period [2]. Focus on Livelihood Investment - Fiscal investment in the livelihood sector has approached 100 trillion yuan, accounting for over 70% of the national general public budget expenditure [3]. - In education, fiscal investment is expected to exceed 25 trillion yuan, representing a growth of around 38% compared to the "13th Five-Year Plan" period, with education funding consistently above 4% of GDP for over a decade [3]. Active Fiscal Macroeconomic Regulation - Fiscal policy has become more proactive and precise, enhancing its adaptability to economic conditions, supporting stable economic development [4]. - National fiscal science and technology expenditure is expected to reach 5.5 trillion yuan, a 34% increase from the "13th Five-Year Plan" period, focusing on basic research and national strategic technology tasks [4]. Tax and Fiscal Reform - The "14th Five-Year Plan" period has seen deepening tax and fiscal reforms to better serve national governance modernization [5][6]. - Key reform focuses include optimizing resource allocation, enhancing efficiency and fairness in tax systems, and improving the incentive mechanisms for high-quality development [7]. Risk Prevention and Management - The fiscal department has prioritized risk prevention in key areas, particularly in local government debt management, with a focus on regular supervision and a legal debt management system [8]. - Central fiscal transfers to local governments are projected to be nearly 50 trillion yuan over five years, ensuring stable local fiscal operations [8].

Core Insights - The "14th Five-Year Plan" period has significantly enhanced the national fiscal strength, with public budget revenue expected to reach 106 trillion yuan, an increase of 17 trillion yuan or approximately 19% compared to the "13th Five-Year Plan" period [3] - Public budget expenditure is projected to exceed 136 trillion yuan over five years, marking an increase of 26 trillion yuan or 24% from the previous period, with a focus on optimizing the structure to direct more funds towards major development and livelihood projects [3][4] Revenue Growth - National public budget revenue is expected to grow to 106 trillion yuan during the "14th Five-Year Plan," which is an increase of 17 trillion yuan from the "13th Five-Year Plan" [3] - By 2024, 16 provinces are projected to see fiscal revenue growth of over 20% compared to 2020, with 7 provinces exceeding 500 billion yuan, and 2 provinces surpassing 1 trillion yuan [3] Expenditure Focus - Total public budget expenditure is anticipated to exceed 136 trillion yuan, reflecting a 24% increase from the "13th Five-Year Plan" period [3] - Significant allocations include 20.5 trillion yuan for education, 19.6 trillion yuan for social security and employment, 10.6 trillion yuan for health care, and 4 trillion yuan for housing security, totaling nearly 100 trillion yuan in fiscal investment for livelihoods [4] Social Welfare Initiatives - The fiscal policy during the "14th Five-Year Plan" emphasizes social welfare, with 1 billion yuan allocated for childcare subsidies and 200 million yuan for gradually implementing free preschool education [4] - The government aims to ensure that the benefits of modernization are equitably distributed among all citizens, from urban areas to remote villages [4]

Core Insights - The press conference highlighted the achievements of fiscal reforms during the "14th Five-Year Plan" period, emphasizing the significant enhancement of national fiscal strength and the ability to address major issues effectively [1][3] Fiscal Revenue - The national general public budget revenue is expected to reach 106 trillion yuan during the "14th Five-Year Plan," an increase of 17 trillion yuan compared to the "13th Five-Year Plan," representing a growth of approximately 19% [3] - Local fiscal strength has steadily increased, with 16 provinces projected to have fiscal revenue growth of over 20% compared to 2020, and 7 provinces exceeding 500 billion yuan, while 2 provinces surpass 1 trillion yuan [3] Fiscal Expenditure - The national general public budget expenditure is anticipated to exceed 136 trillion yuan during the "14th Five-Year Plan," an increase of 26 trillion yuan compared to the "13th Five-Year Plan," indicating a growth of 24% [3]

Core Insights - The financial strength of the country has significantly increased during the "14th Five-Year Plan" period, with public budget revenue expected to reach 106 trillion yuan, an increase of 1.7 trillion yuan compared to the "13th Five-Year Plan," representing a growth of approximately 19% [1][1][1] - Public budget expenditure is projected to exceed 136 trillion yuan over the five years, an increase of 2.6 trillion yuan from the "13th Five-Year Plan," reflecting a growth of 24% [1][1][1] - More financial resources are being allocated to major development projects and public welfare initiatives, indicating a focus on enhancing the quality of life and economic development [1][1][1]

Core Points - The press conference held by the State Council Information Office highlighted the achievements of fiscal reform and development during the "14th Five-Year Plan" period [1] Fiscal Strength - The national fiscal strength has significantly increased, with the general public budget revenue expected to reach 106 trillion yuan, an increase of 17 trillion yuan compared to the "13th Five-Year Plan," representing a growth of approximately 19% [1] Expenditure Growth - The expenditure intensity is unprecedented, with the general public budget expenditure projected to exceed 136 trillion yuan over five years, an increase of 26 trillion yuan compared to the "13th Five-Year Plan," indicating a growth of 24% [1] Investment Focus - More financial resources are being directed towards major development projects and livelihood improvements, reflecting a commitment to enhancing public welfare [1]

Core Points - The State Council Information Office will hold a press conference on September 12, 2025, at 3 PM to discuss the achievements of fiscal reform and development during the "14th Five-Year Plan" period [2] Group 1 - The press conference will feature Finance Minister Lan Fo'an presenting the outcomes of fiscal reforms [2] - The event aims to provide insights into the progress made under the "14th Five-Year Plan" [2] - Journalists will have the opportunity to ask questions following the presentation [2]

Core Points - The State Council Information Office will hold a press conference on September 12, 2025, at 3 PM to discuss the achievements of fiscal reform and development during the 14th Five-Year Plan period [1] Group 1 - The press conference will feature Finance Minister Lan Fo'an, who will introduce the outcomes of fiscal reforms [1] - The event is part of a series of themed press conferences focused on the high-quality completion of the 14th Five-Year Plan [1]