Home » News » 2023 Proactive Fiscal Policy Implementation and 2024 Plans: Ministry of Finance Announcement

2023 Proactive Fiscal Policy Implementation and 2024 Plans: Ministry of Finance Announcement

CCTV news:The reporter learned from the Ministry of Finance that since 2023, in the face of severe and complex situations, my country has implemented a multi-pronged proactive fiscal policy to effectively promote economic recovery.

Finance Minister Lan Fo’an said that in 2023, our country will increase the intensity of fiscal policy adjustments and implement a good policy “combination punch”. Improve tax support policies and reduce the tax burden on operating entities. We will make good use of special bond funds and promote the construction of a number of major projects in transportation, water conservancy, energy, etc. that will benefit both the present and the long-term. Increase transfer payments to local governments to ensure the smooth operation of grassroots finances.

At the same time, we will strengthen investment guarantees in key areas, promote high-quality development of the manufacturing industry, vigorously support scientific and technological innovation, promote comprehensive rural revitalization, promote coordinated regional development, and help improve the quality of economic development.

Minister of Finance Lan Foan:We will strengthen people’s livelihood protection, fully support flood prevention and disaster relief, and issue an additional 1 trillion yuan of national debt specifically to support post-disaster recovery and reconstruction and improve disaster prevention, reduction and relief capabilities. Increase support for education development, support the development of health undertakings, improve social security levels, strengthen ecological and environmental protection and management, and effectively manage people’s livelihood matters.

Lan Fo’an said that in 2023, the financial department will insist on reducing the existing debt and curbing the increase, promote the formulation of a “package” debt reduction plan, and solidly promote the resolution of local government debt. In order to strengthen financial and accounting supervision, this year we also carried out special actions for financial and accounting supervision, special actions for budget execution supervision, and special rectification actions for key people’s livelihood funds, achieving full coverage of the integrated budget management system.

Next year’s proactive fiscal policy will be appropriately intensified to improve quality and efficiency.

In 2024, my country will continue to implement a proactive fiscal policy, and the key words of the proactive fiscal policy have also changed from “increasing efforts and improving efficiency” in 2023 to “appropriate strengthening, improving quality and efficiency” in 2024.

Minister of Finance Lan Foan:In terms of moderate intensification, it is mainly to maintain appropriate expenditure intensity, release positive signals, reasonably arrange the scale of government investment, give full play to the amplification effect, increase balanced transfer payments, secure the bottom line of “three guarantees” at the grassroots level, and optimize and adjust tax policies , improve accuracy and pertinence.

Regarding “improving quality and efficiency,” Lan Fo’an said that the proactive fiscal policy will work hard in six aspects.

Minister of Finance Lan Foan:In terms of improving quality and efficiency, we mainly work hard to implement the requirements of “living a tight life”, work hard to optimize the fiscal expenditure structure, work hard to strengthen performance management, work hard to strictly enforce financial discipline, and work hard to enhance fiscal sustainability. , Efforts should be made to strengthen policy coordination, promote legalization, scientificity, standardization and normalization of financial management, and spend the same money to achieve greater results.

Eight aspects of work next year will focus on high-quality development

In the new year, our country will continue to implement proactive fiscal policies. Specifically, what areas will the key work focus on? Economic and social development, improvement of people’s livelihood and well-being, etc. are all listed on the key fiscal work list for 2024.

According to reports, the proactive fiscal policy in 2024 should focus on high-quality development and strive to promote Chinese-style modernization. Focus on eight aspects of work.

The first is to support the acceleration of the construction of a modern industrial system. Promote the optimization and upgrading of industrial structure, increase support for industrial technological innovation, and support the improvement of enterprise competitiveness.

The second is to support the expansion of domestic demand. Promote the construction of a unified national market, promote stable growth in consumption, strengthen the management of the use of special bond funds, continue to make good use of additional government bond issuance funds, consolidate the fundamentals of foreign trade and foreign investment, and support the enhancement of the main driving force of domestic demand.

In terms of supporting the in-depth implementation of the strategy of rejuvenating the country through science and education, we will improve the level of compulsory education funding, increase inclusive preschool education resources through multiple channels, support the improvement of basic school running conditions for county general high schools, and promote the construction of a high-quality education system.

Minister of Finance Lan Foan:We will fully support winning the battle against key core technologies, ensure the funding needs for major national science and technology projects, deepen the reform of the allocation and use mechanism of fiscal science and technology funds, and promote self-reliance and self-reliance in high-level science and technology.

In terms of supporting, ensuring and improving people’s livelihood, we will implement the employment priority policy and support enterprises through multiple channels to stabilize and expand jobs and individuals to start their own businesses and find employment. We will improve the medical and health security system and strive to reduce the people’s burden of medical treatment. We will improve the social security system and thoroughly implement the national pooling system for pension insurance.

In terms of supporting “agriculture, rural areas and farmers”, we will raise the investment standards for high-standard farmland construction, ensure farmers’ income from growing grain, improve the reward policy for major grain-producing counties, and enhance the ability to ensure food security. Strengthen industrial and employment assistance, and effectively consolidate and expand the results of poverty alleviation.

In terms of supporting the promotion of urban-rural integration and coordinated regional development, we will improve the systems and mechanisms to promote urban-rural integrated development and promote new urbanization. We will further improve fiscal and taxation policies that support major regional strategies such as the comprehensive revitalization of Northeast China, the coordinated development of Beijing-Tianjin-Hebei, and the construction of Xiongan New Area, and promote coordinated regional development.

In terms of supporting and strengthening the construction of ecological civilization, we will increase efforts to protect the ecological environment and fully support the fight against the Three-North Project. Implement and improve relevant fiscal and taxation policies, and steadily promote carbon peak and carbon neutrality.

Minister of Finance Lan Foan:Support expanding high-level opening up to the outside world. Promote the reform and improvement of global economic governance, support the construction of a new higher-level open economic system, and promote high-quality joint construction of the “Belt and Road”.

2023-12-23 01:36:47
#Appropriately #increase #efforts #improve #quality #efficiency #continue #implement #proactive #fiscal #policies

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.