On January 25, the annual report of China's fiscal revenue and expenditure in 2021 was officially released. According to the data of the Ministry of finance, the national general public budget revenue in 2021 was 20.25 trillion yuan, exceeding 20 trillion yuan. The national general public budget expenditure was 24.63 trillion yuan, an increase of 0.3%. At the same time, in 2021, new tax cuts and fees will exceed 1 trillion yuan. We will continue to ensure that the government is tight and that people's livelihood is effectively guaranteed. The Ministry of Finance said that in 2022, it will actively launch policies conducive to economic stability, and the policy force will be appropriately advanced. We will implement new and greater combined tax cuts and fee reductions according to the needs of market players. Focus on the high-quality development of manufacturing industry, and support the relief of small, medium-sized and micro enterprises and individual industrial and commercial households. Fiscal revenue exceeded 20 trillion yuan, and new tax cuts and fees exceeded trillion yuan The reporter of economic information daily learned from the press conference held by the Ministry of finance at the state information office on the 25th that in 2021, the national general public budget revenue was 20.25 trillion yuan, nearly doubling from 11.73 trillion yuan in 2012. Specifically, the revenue in 2021 increased by 10.7% over the previous year and 6.4% compared with 2019, and the revenue budget was completed. Xu Hongcai, Vice Minister of finance, pointed out at the press conference that in 2021, the central and local governments will have certain excess income, which is mainly driven by the factors of economic recovery growth and higher increase of ex factory price index of industrial producers. This is compatible with the overall trend of economic operation and enterprise profit growth, and it is also in line with expectations. It is noteworthy that the growth of fiscal revenue in 2021 is completed under the condition of the practical implementation of tax reduction and fee reduction of more than trillion yuan. "In 2021, various tax reduction and fee reduction policies were effectively implemented, and income was not increased by increasing the tax burden of market subjects." Xu Hongcai said that this reflects that China's economic recovery has indeed reached a new level. In the just past year 2021, as a key move to deepen the supply side structural reform, China has accurately implemented tax cuts and fee reductions, highlighting support for manufacturing upgrading, small, medium-sized and micro enterprises and individual industrial and commercial households. On the basis of the accumulated tax reduction and fee reduction of more than 7.6 trillion yuan during the 13th Five Year Plan period, more than 1 trillion yuan will be added in 2021. However, Xu Hongcai also pointed out that we should treat the excess revenue of fiscal revenue rationally and objectively. Although fiscal revenue exceeded revenue in 2021, compared with 2019, fiscal revenue increased by 6.4%, with an average growth of 3.1% in two years, which was lower than GDP growth. The proportion of fiscal revenue in GDP continued to decline, and the pressure of fiscal support for economic and social development was still large. "Last year's excess income was fully used to supplement the budget stability adjustment fund in accordance with the provisions of the budget law, without arranging last year's expenditure. This will provide more resources and space for this year's budget arrangement, and also provide financial support for maintaining this year's expenditure intensity and promoting the sinking of financial resources." Xu Hongcai said. Strong guarantee for key areas of direct funds to improve efficiency In terms of fiscal expenditure, the national general public budget expenditure for the whole year was 24.63 trillion yuan, a year-on-year increase of 0.3%. Among them, expenditure at the central level decreased by 0.1% and local expenditure increased by 0.3%. In 2021, on the basis of continuous reduction in previous years, the central department took the lead in living a tight life. The central level expenditure was 3.5 trillion yuan. After excluding the expenditure of national defense and armed police, interest payment of national debt issuance and reserves, the expenditure of the central department decreased by 8.2%. Central departments cut spending and freed up more funds to support local and grass-roots governments. Governments at all levels have also made efforts to reduce administrative operation costs. At the same time, expenditures in key areas such as "Three Guarantees" at the grass-roots level have been effectively guaranteed. The national education expenditure was 3.76 trillion yuan, an increase of 3.5% over the previous year; Social security and employment expenditure was 3.39 trillion yuan, an increase of 3.4% over the previous year; Health expenditure is 1.92 trillion yuan, which will continue to maintain a high intensity in 2021, and the scale of expenditure is basically the same as that of the previous year. In 2021, the efficiency of direct funds will continue to improve, benefiting enterprises and people accurately and effectively. The financial department implemented the normalized direct financial fund mechanism and expanded its scope. Throughout the year, the central government issued a direct fund budget target of 2.8 trillion yuan. As of December 31, 2021, all localities had achieved a cumulative actual expenditure of 2.67 trillion yuan, accounting for 95% of the total direct financial fund issued by the central government. In the direction of capital use, the capital expenditure directly used for employment exceeded 51 billion yuan; Spending on basic livelihood such as pension, compulsory education, basic medical care and basic housing exceeded 1.92 trillion yuan; It is used to support the main body of the insurance market, and the related direct benefit to enterprises has accumulated more than 600 billion yuan. We will implement new and more vigorous combined tax cuts and fee reductions How to plan the fiscal money in 2022? In this regard, Xu Hongcai introduced that the Ministry of finance is carefully analyzing the situation, conducting research and calculation. "In general, we should consider the impact of many uncertain factors in combination with economic growth, especially the implementation of more vigorous tax cuts and fee reductions in the budget revenue." Xu Hongcai said that as far as the Ministry of finance is concerned, to implement the spirit of the central economic work conference is to accurately grasp the requirements of stability and seeking progress in stability, implement active fiscal policies, stabilize the macro-economic market, actively launch policies conducive to economic stability, and the policy force should be appropriately advanced. At present, China's economic development is facing the triple pressure of shrinking demand, supply shock and weakening expectation, and the external environment is becoming more complex, severe and uncertain. More than 100 million market players are the foundation and toughness of China's economic development and an important foundation for stabilizing the basic economic market. "In 2022, we will implement new and greater combined tax cuts and fee reductions according to the needs of market subjects." Xu Hongcai said that efforts should be made mainly from four aspects: first, focus on the high-quality development of the manufacturing industry and promote the scientific and technological innovation and innovation of enterprises. Second, focus on small and micro enterprises and individual industrial and commercial households to accelerate the development of market players and increase vitality. Third, focus on strengthening local financial resources to provide guarantee for tax reduction and fee reduction. Fourth, we will resolutely crack down on tax evasion and tax fraud, and resolutely stop arbitrary charges. Li Xuhong, director of the Institute of fiscal policy and application of Beijing National Institute of accounting, told the reporter of Economic Information Daily that tax cuts and fee reductions have made obvious contributions to the economy in many aspects. In 2021, China optimized and implemented the tax reduction and fee reduction policy, effectively reduced the cost of enterprises in the real economy, optimized the tax business environment, activated the market vitality and effectively promoted high-quality development. Luo Zhiheng, chief economist of YueKai securities and President of the Research Institute, told reporters that it is necessary to introduce new tax reduction policies to improve the anti risk ability of market subjects. At the same time, we should reflect the structure, accuracy and effectiveness, especially strengthen the support for small, medium-sized and micro enterprises, individual industrial and commercial households, manufacturing, risk resolution and so on. (outlook new era)