Report: China’s fiscal revenue will continue to recover and grow. In 2023, the national general public budget expenditure will increase by 5.4% year-on-year.
In recent years, transfer payments have continued to increase, and new financial resources from the central government have been transferred to local governments. The report recommends optimizing the debt structure between the central and local governments, appropriately increasing the proportion of central debt, and improving the level and effectiveness of the final allocation of financial resources.