Core Points - The Chinese Minister of Finance, Lan Fang'an, emphasized that the most significant and substantial aspect of the national fiscal accounts is the livelihood of the people [1] - Since the beginning of the 14th Five-Year Plan, over 70% of the national general public budget expenditure has been allocated to livelihood-related areas, directly benefiting the public [1] - As of now, over 1.07 billion people are participating in basic pension insurance, and 1.327 billion people are covered by basic medical insurance [1] - The country has established the world's largest and most comprehensive social security system, with over 45 million people receiving basic living assistance [1] - A rapid allocation mechanism for disaster relief funds has been innovatively established, with a total of 2.59 trillion yuan allocated during the 14th Five-Year Plan to assist the public in disaster recovery [1] Financial Allocations - During the 14th Five-Year Plan, the national general public budget allocated 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 livelihood investments [1] - The Deputy Minister of Finance, Guo Tingting, noted that the national fiscal investment has continuously increased, supporting the establishment of the world's largest education system [2] - The proportion of national fiscal education funding to GDP has remained above 4% for over a decade, with approximately 130 billion yuan allocated annually for scholarships and grants benefiting around 150 million students [2]

Core Insights - The Chinese government has invested nearly 100 trillion yuan in the livelihood sector over the past five years, accounting for over 70% of the national general public budget expenditure [1] Group 1: Social Security and Welfare - The number of participants in basic pension insurance exceeds 1.07 billion, and those in basic medical insurance reaches 1.327 billion, establishing the world's largest and most comprehensive social security system [2] - During the "14th Five-Year Plan" period, the financial subsidy standard for resident medical insurance increased from 580 yuan to 700 yuan per person per year, with rural and urban minimum living standards raised by approximately 20% [2] - A total of 2.59 trillion yuan has been allocated for disaster relief efforts to assist the public in disaster recovery and production restoration [2] Group 2: Balanced Public Services - The government has increased policy and resource support for underdeveloped regions, with the scale of equalization transfer payments growing from 1.9 trillion yuan in 2021 to 2.7 trillion yuan by 2025, an average annual growth of 9.6% [3] - All administrative villages in China have been connected by hardened roads, with over 95% coverage for express delivery services, 94% for tap water, and 90% for waste collection and treatment [3] - Approximately 7.8 million affordable housing units have been supported, and 160,000 old residential communities have been renovated to help urban vulnerable groups achieve housing security [3] Group 3: Education and Healthcare - The government has increased financial investment to promote the expansion and accessibility of public resources in education and healthcare during the "14th Five-Year Plan" [6] - All students in compulsory education are exempt from miscellaneous fees and receive free textbooks, with around 20 million economically disadvantaged students receiving living subsidies [6] - Over 800 billion yuan has been allocated to support clinical specialty and regional healthcare capacity building, significantly enhancing the service capabilities of various medical institutions [7] Group 4: Accessibility and Inclusivity - The government has promoted direct settlement for cross-province medical treatment, benefiting 560 million people and reducing out-of-pocket expenses by 590 billion yuan [9] - Initiatives for home-based elderly care and the renovation of old communities for children and the elderly have been supported, along with nearly 50,000 public libraries and museums offering free access to the public [9] Group 5: Future Outlook - The government emphasizes that future financial investments will focus on areas where the public has urgent needs and expectations for a better life [10]

Core Viewpoint - The Chinese government has invested nearly 100 trillion yuan in the livelihood sector over the past five years, accounting for over 70% of the national general public budget expenditure, emphasizing the importance of social welfare in fiscal policy [1][2]. Group 1: Financial Investment in Livelihood - Total fiscal expenditure in the livelihood sector during the 14th Five-Year Plan includes 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]. - The government has established a rapid allocation mechanism for disaster relief funds, with a total of 2.59 trillion yuan allocated during the 14th Five-Year Plan to assist citizens in disaster recovery [4]. Group 2: Social Security and Public Services - The number of participants in basic pension insurance exceeds 1.07 billion, and those in basic medical insurance reaches 1.327 billion, indicating the establishment of the world's largest and most comprehensive social security system [4]. - The standard for rural and urban subsistence allowances has increased by approximately 20% [4]. Group 3: Education and Healthcare Improvements - The government has eliminated miscellaneous fees for all urban and rural compulsory education students and provided free textbooks, benefiting around 20 million economically disadvantaged students [9]. - Over 800 billion yuan has been allocated to enhance clinical specialties and regional medical capabilities, significantly improving the service capacity of various healthcare institutions [9]. Group 4: Urban and Rural Development - The scale of equalization transfer payments has increased from 1.9 trillion yuan in 2021 to 2.7 trillion yuan in 2025, with an average annual growth of 9.6% [5]. - Approximately 780,000 affordable housing units have been supported, and 160,000 old communities have been renovated to assist urban vulnerable groups [6]. Group 5: Future Outlook - The government aims to align fiscal investments with the public's expectations for a better life and address urgent needs, indicating a commitment to continuous improvement in social welfare [13].