On February 21st, Finance Minister Lan Fo’an published an article in People’s Daily titled “Implementing More Active Fiscal Policies to Promote Continuous Economic Recovery and Improvement”. It is mentioned that comprehensively grasping the connotation requirements of more proactive fiscal policies. 2025 is the final year of the 14th Five Year Plan. We need to implement a more proactive fiscal policy, continue to make greater efforts and give more awesome, play a good policy “combination punch”, and strive to translate positive factors in all aspects into development achievements. One is to increase the fiscal deficit ratio, increase expenditure intensity, and accelerate expenditure progress. The second is to arrange larger scale government bonds to provide more support for stable growth and structural adjustment. The third is to vigorously optimize the expenditure structure, strengthen precise investment, and pay more attention to benefiting people’s livelihoods, promoting consumption, and increasing momentum. Fourthly, we will continue to make efforts to prevent and resolve risks in key areas, promote the smooth operation and sustainable development of the fiscal system. The fifth is to further increase transfer payments to local governments, enhance local financial resources, and secure the bottom line of the “three guarantees”.
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