(Fighting New Crown Pneumonia) China's Ministry of Finance: Hold on to the "Three Guarantees" Bottom Line
China News Agency, Beijing, March 4th (Reporter Zhao Jianhua) The Ministry of Finance of the PRC issued a notice on the 4th, asking financial departments in various places to firmly embrace the "three guarantees" (guaranteeing basic livelihood, guaranteeing wages, and guaranteeing operation). "Responsibility is guaranteed, the proportion of local fiscal funds retained will be increased in stages, the transfer payment budget will be expedited, the monitoring and supervision of the operation of local treasury funds will be strengthened, the adjustment of fiscal expenditure structure will be strengthened, and general expenditures will be reduced.
The Ministry of Finance requires all places to strictly implement the "three guarantees" guarantee responsibility in strict accordance with the principle of county-level and provincial-level pockets. At the county level, it is necessary to fully implement the responsibility for safeguards, adhere to the priority of the "three guarantees" expenditures in fiscal expenditures, and effectively protect basic people's livelihood, payroll and institutional operations. At the provincial level, the financial strength of the grassroots level, especially in financially difficult counties and districts, should be increased, and the municipal level should increase its support for security in its districts.
Organizations in all regions have arranged by county, and if there is a gap in the "three guarantees" expenditure budget arrangement, timely adjustment or adjustment of the budget will be made up. The central finance has a sound incentive and restraint mechanism, and the county-level basic financial guarantee mechanism has been used to allocate funds such as bonus funds and balanced transfer payments. If the provincial level regulation is not effective, it will be directly reduced to the county after deductions.
From March 1 to the end of June 2020, based on the approved retention rates for all places in the current year, they will be increased by 5 percentage points. In the meantime, all the increased cash flow in all places was reserved for county use, and it was not allowed to stay in provincial finance.
The central government has quickly issued budgets for various transfer payments to local governments and strengthened their ability to guarantee basic people's livelihood. Local governments at all levels, especially county-level grass-roots governments, must make good use of various transfer payment funds, give priority to epidemic prevention and control and "three guarantees" expenditures and ensure payment in full and on time. In particular, they must effectively protect the basic people's livelihood and strengthen the people's difficulties. Pocket protection.
The Ministry of Finance stated that if the budgets for the “three guarantees” for the fiscal year at all levels have not been fully arranged in accordance with the policy, all expenditures for other projects shall be reduced except for emergency relief. Except for the need for epidemic prevention and control, all localities will no longer study and introduce new policies to increase expenditures in principle. (Finish)