The reporter learned from the people's Bank of China on March 8 that in accordance with the spirit of the central economic work conference and the deployment of the government work report, in order to enhance the available financial resources, the people's Bank of China turned over the balance profits to the central finance according to law this year, with a total amount of more than 1 trillion yuan, which is mainly used to offset tax rebates and increase local transfer payments, support enterprise relief, stabilize employment and ensure people's livelihood. According to the government work report, the deficit ratio is planned to be about 2.8% this year, down from last year, which is conducive to enhancing fiscal sustainability. It is expected that fiscal revenue will continue to grow this year. In addition, specific state-owned financial institutions and franchised institutions will turn in the remaining profits in recent years according to law and transfer into the budget stability adjustment fund. The scale of expenditure will expand by more than 2 trillion yuan compared with last year, and the available financial resources will increase significantly. When answering a reporter's question on the balance profits handed over by the people's Bank of China in recent years, the relevant person in charge of the Ministry of Finance said that it is China's customary practice to arrange specific state-owned financial institutions and franchised institutions to hand over profits. It is also an important means of coordinating financial resources and adjusting funds across years, including China National Tobacco Corporation and China Investment Corporation. The people's Bank of China is also one of the units to hand over profits. It is reported that the balance profit of the people's Bank of China mainly comes from the operating income of foreign exchange reserves in the past few years, which will not increase the burden of taxes or economic subjects, nor is it a fiscal deficit. The people's Bank of China turns over the balance profits to the central finance according to law, which will not cause the finance to overdraw from the central bank. The balance profits were handed over in a balanced manner on a monthly basis, and the scale of the balance sheet of the people's Bank of China remained stable, reflecting the coordination and linkage of monetary and fiscal policies and making joint efforts to stabilize the macro-economic market. The profits handed over by the people's Bank of China comply with the provisions of China's laws. According to Article 39 of the law of the people's Republic of China on the people's Bank of China, the net profit of the people's Bank of China after deducting the expenditure of that year from the income of each fiscal year and withdrawing the total reserve according to the proportion approved by the financial department of the State Council shall be turned over to the central finance. In addition, it is also a common practice of the world's major economies to turn over the profits of the central bank to the finance. Similar provisions are contained in the Federal Reserve Act, the Bank of Japan act and the Bank of England act. (Xinhua News Agency)