Core Viewpoint - The Chinese government is implementing a more proactive fiscal policy in 2025 to support major national strategic tasks and basic livelihood financing, ensuring a stable and orderly fiscal operation while achieving economic and social development goals [1] Fiscal Revenue and Expenditure - In 2025, the national general public budget revenue is projected to be 21,604.5 billion yuan, a decrease of 1.7% from the previous year, while tax revenue is expected to be 17,636.3 billion yuan, reflecting a growth of 0.8% [2] - The general public budget expenditure is anticipated to reach 28,739.5 billion yuan, an increase of 1% year-on-year, with significant growth in social security and employment (6.7%), education (3.2%), and health (5.7%) expenditures [3] Tax Revenue Performance - Key tax categories such as domestic value-added tax and corporate income tax have shown positive growth, indicating an increase in economic activity. For instance, the domestic value-added tax grew by 3.4%, and corporate income tax increased by 1% [2][3] - Specific industries like computer communication equipment manufacturing and scientific research services have seen substantial tax revenue growth, with increases of 13.5% and 14.3%, respectively [2] Consumption Support Measures - The government has introduced various funding policies to boost consumer spending, including a program for replacing old consumer goods, which has resulted in sales exceeding 2.6 trillion yuan and benefiting over 36 million people [5][6] - Initiatives to support new consumption formats and international consumption environments have been launched, with 65 pilot cities selected for funding to enhance consumer experiences [6] Childcare Subsidy Implementation - A new childcare subsidy program has been established, providing approximately 100 billion yuan in subsidies for children under three years old, marking a significant step in direct cash support for families [7] - The program aims for broad coverage and fairness, ensuring that all eligible children receive equal benefits, with over 30 million children already receiving subsidies [7][8]