Ministry of Finance: Fiscal Expenditure Budget Arrangement Exceeds 30 Trillion Yuan for First Time This Year

At a press conference themed "Starting the '15th Five-Year Plan' with a Strong Beginning," held by the State Council Information Office, officials from the Ministry of Finance introduced the role of this year's proactive fiscal policy and outlined key areas for policy implementation in the second half of the year.

Vice Minister of Finance Liao Min stated that since the beginning of this year, the Ministry has firmly implemented a more proactive fiscal policy: this year's fiscal expenditure budget arrangement has exceeded 30 trillion yuan for the first time. The scale of new government bonds has reached 11.89 trillion yuan, the largest in history. Central government transfer payments to local governments have exceeded 10 trillion yuan for the fourth consecutive year, reaching 10.42 trillion yuan.

In the second half of the year, fiscal policy will focus on three key areas to enhance effectiveness: accelerating fund utilization, intensifying efforts to expand domestic demand, and strengthening fiscal reform and management. Regarding incremental policies, the Ministry of Finance will promptly formulate and implement pragmatic and effective incremental policies based on macroeconomic performance in the second half of the year, providing strong support for achieving qualitative improvement and reasonable quantitative growth of the economy.

[ChainCatcher]