Revenue exceeding 20 trillion yuan, with stronger financial strength
2023-12-18
The national fiscal revenue has exceeded 20 trillion yuan and expenditure has reached nearly 24 trillion yuan. According to the national fiscal revenue and expenditure data from the first 11 months of this year, the overall execution of the budget is good, effectively ensuring the implementation of major decisions and deployments of the Party Central Committee and the State Council. Finance is the foundation and important pillar of national governance. Since the 18th National Congress of the Communist Party of China, on the basis of sustained economic development, China's financial strength has become stronger. Adapting to changes in the economic situation and tasks, the government actively fulfills its functions, divides and makes good use of the cake, continuously improves macroeconomic regulation, and effectively promotes sustained and healthy economic and social development. The financial "cake" is becoming increasingly larger. Since the 18th National Congress of the Communist Party of China, fiscal revenue has maintained rapid growth, with the national fiscal revenue increasing from approximately 12.9 trillion yuan in 2013 to approximately 20.4 trillion yuan in 2022. He Daixin, Director of the Finance Research Office of the Institute of Finance and Strategy at the Chinese Academy of Social Sciences, stated that in the past 10 years, China's economic development has steadily advanced and its scale has continuously expanded, becoming an important support for expanding the fiscal "cake". "Last year, the national general public budget revenue exceeded 20 trillion yuan, which was a hard won achievement," said He Daixin. Affected by unexpected factors such as the fluctuation of the epidemic and changes in the international situation, the growth rate of fiscal revenue briefly declined last year. With the implementation and effectiveness of a package of policies and measures to stabilize the economy, the economy has recovered and stabilized, and relevant taxes have achieved varying degrees of growth throughout the year. In the first 11 months of this year, the national fiscal revenue reached 20013.1 billion yuan, a year-on-year increase of 7.9%. Among them, tax revenue was 16842 billion yuan, a year-on-year increase of 10.2%. Overall, fiscal revenue has maintained a restorative growth, which is in line with the trend of sustained economic recovery and overall improvement since the beginning of this year. Financial funds are obtained and used by the people. Over the past 10 years, the national fiscal expenditure has increased from approximately 14 trillion yuan in 2013 to approximately 26.1 trillion yuan in 2022. Financial guarantees are more precise and effective, supporting technological self-reliance and self-improvement, strengthening basic livelihood guarantees, promoting coordinated development between urban and rural areas, supporting the victory of poverty alleviation, and fighting the battle against pollution prevention and control. Efforts are made to solve the problems of imbalanced and insufficient development, promote the construction of a new development pattern, and achieve high-quality development. The central government will increase its financial support to local governments, optimize expenditure structure, and increase transfer payments to local governments. This year, the central government's transfer payments to local governments reached 10.06 trillion yuan, a new high in recent years. The progress of fiscal expenditure is reasonably accelerated, and the guarantee of key expenditures is strong. In the first 11 months of this year, the national fiscal expenditure was 238462 billion yuan, a year-on-year increase of 4.9%. Among them, education expenditure increased by 5.7% year-on-year, science and technology expenditure increased by 4.3% year-on-year, social security and employment expenditure increased by 9% year-on-year, and agricultural, forestry and water expenditure increased by 5.8% year-on-year. Over the past 10 years, fiscal macroeconomic regulation has been continuously improved: continuous implementation of proactive fiscal policies to enhance policy foresight, flexibility, and targeting; Maintain necessary fiscal expenditure intensity to better safeguard major national strategic tasks; Implementing large-scale tax and fee reductions, the proportion of tax revenue to China's GDP has decreased from around 17% in 2018 to 13.8% in 2022; Establish normalized financial resources
Edit：He Chuanning Responsible editor：Su Suiyue
Source：Xinhua
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