Liu Kun, Minister of Finance. China News Agency reporter Tomita
China News Agency, Beijing, June 8 (Reporter Zhao Jianhua) Chinese Minister of Finance Liu Kun said at the National Finance Department (Bureau) Ministers’ Forum held in Beijing on the 8th that this year’s active fiscal policy measures, in summary, mainly issued a "Signal", do four "hedging".
-Appropriately increase the deficit rate and clearly send positive signals. Special measures were taken during special periods to increase the deficit rate from 2.8% to more than 3.6%. The fiscal deficit scale increased by 1 trillion yuan (RMB, the same below), and actively hedged the impact of income reduction and expenditure caused by the epidemic, stabilized and improved Revitalize market confidence.
-Increase government investment to hedge downward pressure on the economy. Arranged 3.75 trillion yuan of new special bonds for local governments, an increase of 1.6 trillion yuan over last year. According to the principle of “funds follow projects”, they are allocated for local co-ordination and use, with a focus on state-supported infrastructure construction with guaranteed asset returns project. Issued 1 trillion yuan of special treasury bonds. Intensify the use of various types of carryover and deposit funds, and strive to increase available financial resources through multiple channels to make up for the gap in fiscal revenue reduction and expenditure.
——Intensify efforts to reduce taxes and fees and hedge business difficulties of enterprises. Strengthen the phased policy, combined with institutional arrangements, focus on reducing the tax burden of small and medium-sized enterprises, individual industrial and commercial households and enterprises in difficult industries. It is expected that the additional burden reduction for market players will exceed 2.5 trillion yuan throughout the year.
—— Increase the intensity of transfer payments and hedge the pressure of “three guarantees” at the grassroots level. The newly increased fiscal deficits and special anti-epidemic national debts are all allocated to local governments, and will not be discounted or deducted in the implementation of the "six guarantees" task and tax and fee reductions. Establish a special transfer payment mechanism and increase support for local financial resources.
——Strengthen the balance of the budget and reduce the impact of hedging epidemic situation. The central level strives to solve the problem of income reduction through economic growth during implementation. While reducing central level expenditures, it will increase transfer payments to local governments to promote the realization of a balance of payments.
Liu Kun emphasized that it is expected that the national general public budget revenue will be 18.03 trillion yuan this year, and the expenditure will reach 24.79 trillion yuan. From the perspective of expenditure scale, the intensity of the proactive fiscal policy is unprecedented, and the uncertainties that may exist in the second half of the year are considered. The top priority is to ensure the implementation of various policies and measures, ensure that financial policies and funds see effective results as soon as possible, and play a key role in stabilizing economic growth.
Liu Kun said that the allocation of financial funds should focus on key points, improve quality and increase efficiency. Resolutely implement the policy of tax reduction and fee reduction, strengthen coordination with taxation and other departments, organize income according to law and regulations, strictly prohibit the collection of "excess tax", illegal tax collection fees and false increase in revenue, and can not increase fees indiscriminately because of the contradiction between fiscal revenue and expenditure Business burden. At the same time, revitalize the stock capital resources assets and strengthen budget execution management. (Finish)