Core Viewpoint - The Chinese government emphasizes the importance of the "Three Guarantees" (basic livelihood, salary payments, and institutional operations) in ensuring social stability and economic recovery amid the COVID-19 pandemic, with a focus on strengthening local fiscal responsibilities and support mechanisms [1][4][5] Group 1: Fiscal Responsibility and Mechanisms - The Ministry of Finance has established a basic financial guarantee mechanism for county-level governments to ensure the "Three Guarantees" are met, with a collaborative effort from various government levels [1] - The principle of fiscal responsibility is that county-level governments take the lead, supported by provincial governments, while the central government provides active support through transfer payments [1][4] Group 2: Implementation and Prioritization - County-level governments are urged to prioritize "Three Guarantees" in their budgets, ensuring that basic livelihood, salary payments, and institutional operations are funded first [4] - Provincial governments are responsible for balancing fiscal resources below their level and should provide additional support to economically disadvantaged areas [4][5] Group 3: Central Government Support - The central government aims to provide necessary support to local governments significantly impacted by the pandemic, particularly through increased transfer payments to those in financial distress [5] - All departments and units are expected to manage their funds effectively to ensure salaries and operational costs are covered, especially in response to unexpected expenditures [5]

Core Points - The Chinese government has significantly increased its fiscal investment in people's livelihoods during the "14th Five-Year Plan" period, with over 70% of the national general public budget expenditure allocated to this area [1] - Total fiscal investment in people's livelihoods is approaching 100 trillion yuan, with specific allocations including 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 [1] - In 2023, the government has allocated 1 billion yuan for childcare subsidies and 200 million yuan to gradually implement free preschool education, addressing public concerns [1] Fiscal Transfers and Support - The scale of equalization transfer payments is set to increase from 1.9 trillion yuan in 2021 to 2.7 trillion yuan by 2025, representing an average annual growth of 9.6%, aimed at promoting equitable access to basic public services across urban and rural areas [1] - The central government's financial support for rural revitalization will rise from 156.5 billion yuan in 2021 to 177 billion yuan by 2025, totaling 850.5 billion yuan over five years, which is an increase of 320 billion yuan compared to the "13th Five-Year Plan," marking a 60% growth [1]