Fiscal revenues and expenditures are the "barometer" of economic performance. During the 13th Five-Year Plan period, the national "money bag" maintained steady growth on the whole, and the national fiscal strength continued to strengthen. Government spending grew rapidly, and spending in key areas was effectively guaranteed, demonstrating that a proactive fiscal policy became more proactive and effective.

Topped 15 trillion yuan, 17 trillion yuan, 18 trillion yuan, 19 trillion yuan, from 2016 to 2019, in the developed business tax paid VAT and other tax cuts JiangFei instead measures, gradually increase the national fiscal revenue, about 1.3 fold increase in the four years, average annual growth rate reached 5.7%, the state financial power to a new level.

"During the 13th Five-Year Plan period, despite the large-scale implementation of tax reduction and fee reduction policies, China's fiscal revenue still maintained a steady growth. On the one hand, this shows that China's economic development is progressing steadily and the economy maintains a steady growth. On the other hand, it reflects the fact that tax cuts and fees will help enterprises develop better and gradually release the effect of "releasing water and raising fish". He Daixin, deputy director of the Financial Research Department of the Chinese Academy of Social Sciences.

In recent years, as China's economy has moved towards high-quality development, its industrial structure has been continuously optimized, and so has its fiscal revenue structure.

Statistics show that the tertiary industry's share of tax revenue rose from 54.8 percent at the end of the 12th Five-Year Plan period to 56.9 percent in 2019, an increase of 2.1 percentage points. The secondary industry's share of tax revenue dropped from 45.1 percent at the end of the 12th Five-Year Plan period to 43 percent in 2019.

"It can be seen that in the past five years, the tertiary industry has grown significantly faster than the secondary industry, and the high-tech manufacturing industry, modern service industry, information technology and other industries have grown rapidly in terms of tax revenue, reflecting the increasingly prominent role of the tertiary industry in driving economic and social development, and highlighting China's better economic structure and more new drivers." "He said.

The increasingly abundant national "money bag" provides a powerful financial guarantee for promoting economic development and improving people's livelihood.

Add an egg, a box of milk, hold up the hope of a healthy growth. To ensure that more rural students in poor areas have nutritious meals, the central government allocated 103 billion yuan in subsidies for students during the 13th Five-Year Plan period, benefiting 32 million students every year.

This is a microcosm of strong and effective fiscal spending. Figures show that government spending in 2016, 2017, 2018 and 2019 topped 18 trillion yuan, 20 trillion yuan, 22 trillion yuan and 23 trillion yuan respectively, with an average annual growth rate of 8%.

From important national development strategies and major projects, to the basic necessities of life and the livelihood security of the people, fiscal "real money" continued to increase input during the 13th Five-Year Plan period:

-- We made every effort to ensure adequate funding for poverty alleviation, with the central government allocating a total of 530.5 billion yuan for poverty alleviation, an increase of 20 billion yuan each year for five consecutive years.

-- We supported the fight against pollution, and allocated a total of 1.874.3 trillion yuan from the central government's budget for ecological and environmental protection to continuously improve the quality of the ecological environment.

-- We supported the establishment of a better medical security system, and increased government spending on health care from 1.315.9 trillion yuan to 1.754.5 trillion yuan nationwide, an average annual growth rate of 7.5%.

-- The central government allocated 2.4 trillion yuan in subsidies for basic old-age insurance for enterprise employees, and continued to increase subsidies for basic old-age insurance funds.

...

"Given the serious imbalance between government revenue and expenditure, the financial authorities have maintained the necessary scale of fiscal expenditure, increased input in key areas such as poverty alleviation, people's livelihood and ecological and environmental protection, and played an important role in promoting growth and improving people's livelihood." "He said.

The public finances are for the people and must be used for them.

The Ministry of Finance (MOF) said that during the 13th Five-Year Plan period (2016-2020), the financial sector will adhere to the principle of maintaining some sectors while keeping pressure on others, constantly optimize the structure of expenditure, focus on improving its ability to support China's overall economic and social development, support the deepening of supply-side structural reform, and promote high-quality economic development. At the same time, we will adhere to the people-centered approach to development, emphasize the public and fair nature of public finance, and ensure that the fruits of reform and development benefit the people in a more equitable manner.

Source: Ministry of Finance, PRC