《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》（以下简称"十五五"规划建议）强 调，"增加地方自主财力""加强县域基本公共服务供给统筹，完善投入保障长效机制"，明确了以深化财 税体制改革为契机，建立权责清晰、财力协调、区域均衡的中央和地方财政关系的制度优化方向。2025 年12月8日召开的中央经济工作会议强调，"继续实施更加积极的财政政策""实现高质量、可持续的发 展"，这为地方政府建立健全自主财力增长机制指明了方向。地方自主财力面临的困境，是省以下财政 体制基础不牢、市县财力配置机制不畅、治理能力支撑不足等深层次矛盾的综合体现。本文从深化省以 下事权与支出责任划分改革、优化市县财力配置机制、强化治理能力三个维度，提出构建财力水平稳定 提升的内生机制，建立健全市县自主财力可持续增长机制的思路与建议。 制约地方自主财力增加的原因 构建市县自主财力可持续增长机制 提升地方自主财力水平是一项系统性、长期性工程，其核心在于通过制度性改革与治理能力提升，构建 财力水平稳定提升的内生机制，切实增加地方自主财力，推动地方财政发展从被动应对向主动提质增效 转型。即从制度改革、机制优化、治理效能入手，通过深化省以 ...

Core Insights - Guangdong province is undergoing significant fiscal reform aimed at increasing local financial autonomy by adjusting the revenue-sharing ratio between provincial and municipal governments, resulting in a notable decrease in provincial budget revenue [2][6]. Fiscal Adjustments - The initial budget for Guangdong's provincial general public budget revenue was reduced from 315.3 billion to 239.18 billion, a decrease of 76.12 billion [2]. - The reform allows municipalities to retain a larger share of revenue, leading to increased local fiscal capacity [2][6]. Municipal Revenue Growth - Guangzhou's public budget revenue for the first three quarters reached 163.21 billion, an increase of 17.67 billion or approximately 12% compared to the previous year, significantly outpacing the national growth rate of 1.8% [3]. - Other cities in Guangdong, such as Dongguan and Huizhou, also reported substantial revenue growth, with increases of 12.3% and 13.7% respectively [4]. Revenue Sharing Details - The revenue-sharing adjustment primarily affects shared taxes, including VAT, corporate income tax, personal income tax, and land value-added tax, which were previously split evenly between the province and municipalities [4]. - The reduction in provincial revenue includes approximately 45.71 billion from VAT, 14.76 billion from corporate income tax, and 6.11 billion from personal income tax [4]. Impact on Budget Balancing - The adjustment resulted in an increase of 75.046 billion in municipal contributions to the provincial budget, effectively offsetting the 76.12 billion reduction in provincial revenue, leading to a net decrease of only 1.074 billion in the provincial budget [6]. - The reform aims to alleviate the financial pressures faced by local governments, particularly in maintaining essential services and operations [6][7]. Broader Fiscal Strategy - The fiscal reform is part of a broader strategy to address regional development imbalances and enhance the financial capabilities of local governments, encouraging them to take a more active role in financial management [7].

Core Viewpoint - The article discusses the significant reform in Guangdong Province's fiscal policy aimed at increasing local financial autonomy by adjusting the revenue-sharing ratio between provincial and municipal governments, resulting in a notable decrease in provincial budget revenue and an increase in local government revenues [3][4][9]. Summary by Sections Fiscal Revenue Adjustment - Guangdong's provincial budget revenue was revised down from 315.3 billion to 239.18 billion yuan, a reduction of 76.12 billion yuan [3][4]. - The adjustment is linked to a change in the revenue-sharing ratio between the provincial and municipal levels, allowing municipalities to retain more revenue [3][5]. Impact on Local Governments - Cities like Guangzhou saw a significant increase in fiscal revenue, with a 12% year-on-year growth in general public budget revenue, totaling 163.21 billion yuan for the first three quarters [4]. - The increase in local revenues is primarily due to the provincial government allowing municipalities to keep more of the shared tax revenues, with Guangzhou's revenue increase attributed to approximately 12% growth compared to a national average of 1.8% [4][5]. Tax Revenue Breakdown - The reduction in provincial revenue includes a decrease of approximately 45.71 billion yuan in value-added tax, 14.76 billion yuan in corporate income tax, and 6.11 billion yuan in personal income tax, among others [5][8]. - The reform specifically affects "incremental" revenues, meaning that existing revenue bases remain unchanged, with municipalities expected to remit 75.046 billion yuan back to the provincial level [8][9]. Long-term Implications - The reform aims to alleviate the financial pressures on local governments, particularly concerning basic public services and operational costs, while maintaining the overall fiscal structure [9][10]. - Over time, this policy is expected to gradually enhance local financial capabilities, benefiting local governments in attracting investments and assessing fiscal health [9][10].