More Proactive Fiscal Policy Precisely Targeted as Seen in Budget Execution Report

The report shows that in the first seven months of this year, national general public budget revenue grew 5.8% year-on-year, while national general public budget expenditure increased 1.3% year-on-year. This year's fiscal policy has intensified efforts and strengthened coordination in expanding domestic demand: optimizing subsidy policies for personal consumption loans and loans to service industry business entities, implementing incremental measures such as interest subsidies for small and medium-sized enterprise loans, special guarantees for private investment, and bond risk-sharing for private enterprises, benefiting 6.22 million enterprises and 113 million individuals; allocating 187.5 billion yuan in ultra-long-term special treasury bonds to support consumer goods trade-in programs, driving related merchandise sales of 1.32 trillion yuan and benefiting 178 million individuals; and allocating 800 billion yuan in ultra-long-term special treasury bonds for "two major" projects, supporting the construction of over 1,400 major projects.