410 billion yuan of bonus funds invested in grassroots "three guarantees"
2023-12-07
Since the beginning of this year, the stable operation of China's local finance, especially county-level finance, has received much attention. Recently, the Ministry of Finance issued a budget of over 410 billion yuan to various regions for the 2023 county-level basic financial security mechanism incentive funds (hereinafter referred to as "incentive funds"), supporting some county-level finances facing operational difficulties. At the same time, the Ministry of Finance announced the revised "Management Measures for the Rewards and Supplementary Funds of the Central Finance County level Basic Financial Guarantee Mechanism" (hereinafter referred to as the "Measures"). How to effectively utilize and manage the 410 billion yuan subsidy funds? After 4 years, the Ministry of Finance has revised the management measures for bonus and subsidy funds again. What adjustments have been made? Massive funding support for basic livelihood, salary, and operation refers to the general transfer payment funds established by the central government, mainly used to incentivize and guide local governments to ensure the necessary expenditure needs of grassroots "three guarantees", reward local governments to improve county-level financial balance, and strengthen county-level financial management. The Ministry of Finance has issued a budget for the 2023 bonus and subsidy funds to various regions, which is clearly intended to ensure the smooth operation of county-level finance and support the "three guarantees" (ensuring basic livelihood, salary, and operation). According to the budget allocation table, the budget for bonus funds in 2023 is 410.7 billion yuan, an increase of 8.7% compared to the executed amount in 2022. Among them, 354.1 billion yuan has been allocated in advance, and 56.6 billion yuan has been allocated this time. At the same time, in order to improve budget integrity and accelerate expenditure progress, the Ministry of Finance has issued the 2024 bonus funds in advance, which will be disbursed and used according to the procedure after the start of the 2024 budget year. On the day of issuing the budget for 2023 bonus funds, the Ministry of Finance announced the revised Measures. The reporter noticed that in the revised Measures, the "three guarantees" were ranked as "ensuring wages, ensuring transportation, and ensuring basic livelihood". After revision, "ensuring basic people's livelihoods" has surpassed "ensuring wages" and "ensuring transportation", and has been mentioned as the top priority. Zhao Fuchang, a researcher at the Finance and National Governance Research Center of the Chinese Academy of Financial Sciences, stated in an interview with our reporter that the new version of the General Provisions of the Measures will change the guarantee of grassroots governments implementing various "livelihood policies" to "basic livelihood policies", which reflects the policy orientation of strengthening the management of award and subsidy funds from one side. Specifically, the expression of "ensuring basic livelihood" is more specific, clarifying that basic livelihood expenditures mainly include the implementation of policies formulated by the state in areas such as education, social security, and health, with a focus on ensuring livelihood subsidy projects that directly subsidize individuals or families, as well as basic public service items with clear coverage and standards. In terms of "salary protection", it is clear that the funding for financial support personnel includes the basic salary, bonuses, and allowance subsidies uniformly issued by the state, standardized local allowance subsidies, performance-based wages in public institutions, wage based additional expenses, and retirement expenses for retired personnel. "Pension insurance expenses" are deleted, and the phrase "standardized local allowance subsidies" is added before "local allowance subsidies". In terms of "ensuring operation and transfer", further clarify that operating expenses "include public expenditure incurred by county-level government agencies and public institutions in their own operations and completing daily work tasks.". Zhao Fuchang believes that this revision clarifies the scope and standards of "basic livelihood expenditures" and guides grassroots "three guarantees" work
Edit：He Chuanning Responsible editor：Su Suiyue
Source：Xinhua
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