The Third Session of the 14th National People's Congress held an economic theme press conference today (6th), and the heads of relevant departments answered questions from Chinese and foreign reporters on issues such as development and reform, fiscal budget, business, financial securities, etc.
Finance Minister Lan Foan said that this year's fiscal policy is more active and specifically reflected in the following five points: First, it is more powerful in deficit arrangements. This year, the deficit ratio is arranged at 4%, with the deficit scale reaching 5.66 trillion yuan, an increase of 1.6 trillion yuan over last year. The deficit level and deficit scale are the highest in recent years, and the countercyclical adjustment efforts have been further strengthened.
The second is to be more powerful in terms of expenditure intensity. This year, the national general public budget expenditure was 29.7 trillion yuan, an increase of 4.4% over last year. The further expansion of fiscal expenditure will effectively promote the sustained and healthy development of the economy and society.
The third is that the scale of government bonds is more powerful. This year, 4.4 trillion yuan of local government special bonds were added, and 1.3 trillion yuan of ultra-long-term special treasury bonds were issued. We will support the construction of two projects with greater efforts, and increase the expansion and implementation of the two new policies. We will issue the first batch of special treasury bonds of 500 billion yuan, and support large state-owned commercial banks to supplement core issue capital. In addition, the treasury bonds to make up for the deficit, the scale of new government bonds this year reached 11.86 trillion yuan, an increase of 2.9 trillion yuan from last year.
Fourth, it is more powerful in transfer payments. This year, the central government has allocated 10.34 trillion yuan to local transfer payments to local governments to increase 8.4% in the same amount. The focus is on increasing general transfer payments, enhancing local independent financial resources, effectively improving local fiscal guarantee capabilities, and at the same time increasing allocated funds to promote high-quality development, guiding local governments to improve the quality of development, and enhancing endogenous driving force.
Fifth, it is more powerful in key areas. This year, the national education expenditure, social security and employment expenditure were all close to 4.5 trillion yuan, an increase of 6.1% and 5.9% respectively, and science and technology expenditure exceeded 1.2 trillion yuan, an increase of 8.3%. Expenditures in health, health, housing security and other fields maintained a high growth rate. At the same time, we will continue to strengthen scientific financial management, deepen the reform of the fiscal and taxation system, resolutely implement the requirements of party and government organs to adhere to a tight life, spend money on the cutting edge, and spend good benefits.
Finance Minister Lan Foan said that in order to deal with possible internal and external uncertainties, the central government has also reserved sufficient reserve supply and policy space.
