Key areas provide strong guarantees, and local fiscal revenue growth targets are actively and steadily targeted
2024-01-26
Recently, the two sessions of local governments have been held one after another. A reporter from Shanghai Securities News found that many regions require active and prudent arrangements for the 2024 general public budget growth rate target, which should be synchronized with the economic growth target; In terms of expenditure, it is proposed to maintain necessary intensity in key areas and emphasize the enhancement of fiscal sustainability. Many regions have made arrangements for the 2024 fiscal budget with a "positive and stable" approach to setting income growth rates. Among them, Sichuan, Zhejiang, and Tianjin have set the general public budget revenue target to be basically synchronized with economic growth. "The income arrangement is active and stable." The relevant person in charge of the Sichuan Provincial Department of Finance stated that we adhere to seeking truth from facts, making scientific predictions, and preparing a reasonable income budget to ensure that the growth of fiscal revenue is basically synchronized with the trend of economic development, and coordinated with the overall requirements of proactive fiscal policies. The target for the growth rate of general public budget revenue in Beijing in 2024 has increased from 4% in 2023 to 5%. Qin Zheng, deputy director of the Beijing Municipal Bureau of Finance and press spokesman, said that the economy has generally kept a good momentum of recovery. The country has issued trillions of treasury bond, and introduced a series of policies to promote high-quality development, which will help stabilize social expectations and stimulate economic growth; The accumulation of positive factors such as technological innovation in the capital and the continuous consolidation of achievements in urban financial construction will lay the foundation for the increase of fiscal revenue in Beijing. The Report on the Implementation of Guangdong Province's 2023 Budget and the Draft 2024 Budget proposes that with the continuous release of a series of stable economic policy effects, the economy of Guangdong Province will continue to rebound and improve, laying the foundation for the growth of fiscal revenue. It is expected that the general public budget revenue of Guangdong Province in 2024 can reach 1.43 trillion yuan, an increase of 3%. However, this expected growth rate has slightly decreased compared to 2023. Many regions have made it clear that they will make further efforts to promote financial resources construction. Liu Wenjie, Director of the Finance Department of Hunan Province, stated that in 2024, Hunan will implement a three-year action plan to improve the quality of financial resources, support the construction of "five good" industrial parks, promote the development of county-level economy, cultivate and strengthen backbone tax sources, continuously activate state-owned "three assets", and continuously expand the cake of fiscal revenue. From the perspective of local budget arrangements, maintaining necessary expenditure intensity in key areas, ensuring people's livelihoods, technological innovation, and expanding domestic demand will become the focus of fiscal expenditure in 2024. Guangxi has clearly placed scientific and technological innovation in a more prominent position, further increasing financial investment in science and technology by optimizing expenditure structure, and coordinating the allocation of special funds in the field of science and technology of 2.76 billion yuan, an increase of 300 million yuan compared to 2023. Hu Fan, Director of the Finance Department of Guangxi Zhuang Autonomous Region, stated that he will make every effort to promote the construction of an innovative Guangxi, further strengthen the integration of science and education innovation and industrial innovation, lead the construction of a modern industrial system with scientific and technological innovation, accelerate the cultivation and development of new quality productive forces, and strengthen new driving forces for development. Shandong has allocated 74.468 billion yuan in funds for infrastructure and public service improvement. We will focus on supporting the construction of major transportation infrastructure such as railways, airports, highways, and waterways, as well as the maintenance of ordinary national and provincial roads, and promote the construction of the Shandong Demonstration Zone for a strong transportation country. Support the renovation of old residential areas and the construction of affordable rental housing. Strengthen the construction of the public cultural service system, carry out cultural activities that benefit the people, and support the development of sports. Sichuan plans to arrange general public budget expenditures in 2024
Edit：Hou Wenzhe Responsible editor：Luo Meihua
Source：Shanghai Securities Daily
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