He Daixin, Director of the Finance Research Office of the Institute of Financial Strategy, Chinese Academy of Social Sciences: Actively improving the quality and efficiency of fiscal policies. Fiscal policies are an important means of macroeconomic regulation and play an important role in promoting economic growth and promoting high-quality development. The recently held Central Economic Work Conference proposed to strengthen countercyclical and cross cyclical adjustment of macroeconomic policies in 2024, and to moderately strengthen and improve the quality and efficiency of proactive fiscal policies. "China's continuous implementation of active fiscal policies has played an irreplaceable role in macroeconomic policy countercyclical and cross cyclical adjustments. The Central Economic Work Conference has set the policy direction for 2024, and by continuing to implement active fiscal policies, we will continuously consolidate the foundation of stability and improvement." said He Daixin, Director of the Finance Research Office of the Institute of Financial Strategy at the Chinese Academy of Social Sciences. The main meaning of moderate strengthening is to maintain an appropriate level of fiscal expenditure intensity. "This requires the basic stability of fiscal revenue and the maintenance of appropriate expenditure intensity. 'Moderate acceleration' releases positive signals, which is conducive to better achieving macroeconomic expectations." He Daixin said. He Daixin believes that, specifically speaking, government investment remains an important lever, and at the same time, attention should be paid to the rational arrangement of investment scale to play a driving and amplifying effect on economic growth. Balanced development encompasses both horizontal balance between regions and vertical balance between governments. To this end, the government will also increase the intensity of balanced transfer payments to firmly secure the bottom line of grassroots "three guarantees". The Central Economic Work Conference proposed to implement the policy of structural tax reduction and fee reduction, with a focus on supporting technological innovation and manufacturing development. "After long-term tax reduction and fee reduction, optimizing and adjusting tax and fee policies has become a new goal. Improving policy accuracy and targeting is one of the important actions to build a fiscal policy transmission mechanism," said He Daixin. Improving quality and efficiency mainly requires efforts in implementing the requirements of tight living standards, optimizing the structure of fiscal expenditure, strengthening performance management, enforcing financial discipline, enhancing fiscal sustainability, and strengthening policy coordination. "In the period of tight fiscal balance, it is even more important to focus on promoting the rule of law, scientificity, standardization, and standardization of fiscal management to improve financial efficiency and policy effectiveness," said He Daixin. The National Fiscal Work Conference proposed that in 2024, the proactive fiscal policy should focus on high-quality development and focus on promoting Chinese path to modernization. "This requires financial work to take the overall picture and pay attention to the overall situation," said He Daixin. Active fiscal policies should support the acceleration of the construction of a modern industrial system. Promote the optimization and upgrading of industrial structure through fiscal means, increase support for industrial scientific and technological innovation, and support the enhancement of enterprise competitiveness. Active fiscal policies should support the expansion of domestic demand. "By unifying the tax system and optimizing fiscal expenditures, we will promote the construction of a unified national market and promote stable consumption growth," said He Daixin. In addition, we will further strengthen the management of the use of special bond funds, continue to make good use of additional treasury bond funds, consolidate the basic market of foreign trade and foreign capital, and support the strengthening of domestic demand initiatives. At the same time, we will continue to ensure and support the in-depth implementation of the strategy of revitalizing the country through science and education. Improve the level of funding guarantee for compulsory education, increase inclusive preschool education resources through multiple channels, support the improvement of basic conditions for county-level ordinary high schools, and promote the construction of a high-quality education system. Facing major strategic and key projects, fully supporting the key to winning
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：economic daily
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