China News Agency, Beijing, February 27th (Reporter Zhao Jianhua) After a large number of investigations on local governments and enterprises, the Chinese Academy of Fiscal Sciences released the 2022 "Local Financial and Economic Operation" research report and the 2022 "Enterprise Costs" in Beijing on the 27th. "Research Report (hereinafter referred to as the "Report").

The report believes that in 2023, China's economy will show a trend of stabilization and recovery, but the foundation is not yet solid, and the pressure of fiscal hedging against public risks is still great.

　　In 2022, the national general public budget revenue will increase by 0.6% year-on-year.

Affected by the economic downturn, epidemic disturbances, and large-scale tax rebates, the scale of general public budget revenue fell sharply in the second quarter of the year, and the year-on-year growth rate in April fell to the lowest since the outbreak of the epidemic, especially in areas such as Shanghai that were significantly affected by the epidemic. More obvious; after June 2022, the general public budget revenue will resume growth.

　　According to the report, the regional differentiation of fiscal revenue growth is significant.

In 2022, only 8 regions among the 31 provinces will achieve positive growth in general public budget revenue (natural caliber). Among them, Shanxi, Shaanxi, Inner Mongolia, and Xinjiang will benefit from rising energy prices and their income will increase significantly.

Regional fiscal revenues dominated by manufacturing and service industries have declined, especially in the eastern region.

　　In 2022, the national general public budget expenditure will increase by 6.1% year-on-year.

Among them, the proportion of rigid expenditure on personnel has further increased.

According to the report, some cities and counties in the eastern region reported that in the past, the western region was in a pattern of "fundamental protection and development relying on debt", and now the eastern region is also showing signs of this.

The contradiction between local fiscal revenue and expenditure is still relatively prominent.

　　In 2022, the income of government funds will drop by more than 20% due to the drag of land transfer income.

The report pointed out that the reduction of net income from land has made local financial resources "exacerbated".

The rapid growth of interest payments on local government bonds has impacted the financial sustainability of grassroots governments.

　　Through an online questionnaire survey of more than 13,000 companies across the country, the Chinese Academy of Fiscal Sciences also found that since the outbreak of the epidemic, China has implemented a large-scale tax and fee reduction policy, which has promoted the continuous decline of the macro tax burden, especially in 2022. more obvious.

The proportion of general public budget revenue and tax revenue to GDP will drop from 17.7% and 15.1% in 2021 to 16.8% and 13.8% in 2022, respectively.

More than 60% of the enterprises surveyed and interviewed said that the "total tax payment accounted for the proportion of operating income" has been lower than 5%.

　　At the same time, the cost of raw materials for enterprises has dropped slightly, and the cost of energy consumption has risen steadily; the overall logistics cost has shown an upward trend; the scale of financing has steadily increased, and financing costs have decreased year by year; the business environment has continued to optimize, and system costs have decreased.

However, factors such as the Ukrainian crisis and repeated epidemics have increased the uncertainty of the external environment and the level of public risk, which has offset the effect of the cost reduction policy.

　　According to the report, the asset-liability ratio and operating cost ratio of Chinese enterprises are on the rise, the cost of stabilizing the supply chain of the industrial chain is rising, the cost of Chinese enterprises "going global" is rising, and labor costs are showing a trend of rising.

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