On December 31, the national finance work video conference was held in Beijing. Meeting new era in jinping the ideas of socialism with Chinese characteristics as a guide, fully implement the party's in the 19th and the 19th session of 2, 3, 4, fifth plenary session of the spirit, earnestly implement the central economic work conference, deployment, and communicate study and implement the State Council leading comrades instructions request, summarize 2020 fiscal work, study the deployment of 2021 financial work. Liu Kun, secretary of the Party Committee and Minister of the Ministry of Finance, delivered a work report.

The meeting pointed out that in 2020, the financial department will resolutely implement the guiding principles of General Secretary Xi Jinping's important instructions and the decisions and arrangements of the CPC Central Committee and The State Council, face up to difficulties and fulfill their responsibilities, coordinate epidemic prevention and control with economic and social development, complete all tasks successfully, and effectively promote economic recovery and social stability. First, the prevention and control of COVID-19 should be the most important and urgent task. The "two guarantees" should be put forward as soon as possible. Fiscal and tax policies should be strengthened in response to the epidemic, and efforts should be intensified in policy interpretation and publicity to give full support to the fight against COVID-19. Second, we will increase policy hedging, introduce large-scale policies to help enterprises and rescue them in a timely manner, and creatively set up a direct mechanism for fiscal funds to promote economic stabilization and recovery. Third, we need to strengthen safeguards for poverty alleviation, support efforts to win the battle against poverty on schedule, significantly improve the ecological environment, achieve positive results in preventing and defusing risks, and strive to complete the "last mile" of building a moderately prosperous society in all respects. Fourth, we will focus on ensuring people's wellbeing at the bottom of the income scale, support enterprises in ensuring employment, do a good job at the community level in ensuring people's livelihood, steadily raise the level of basic living allowances, and resolutely uphold the bottom line of the six guarantees. Fifth, we will deepen supply-side structural reform, vigorously support scientific and technological innovation, accelerate the transformation and upgrading of the manufacturing sector, support small and micro businesses in assisting their development, strengthen food and energy security, and make the real economy more innovative and competitive. Sixth, we deepened reform and opening up, steadily advanced the reform of the fiscal and taxation systems, continued to deepen international financial and economic cooperation, further consolidated the foundation of fiscal management, achieved tangible results in the transformation of regulatory authorities, and constantly improved fiscal governance. Seventh, we strengthened our political sense of responsibility, actively coordinated with the central government in conducting inspections, exercised strict oversight over party governance, strengthened our work style and discipline, improved the political functions of community-level Party organizations, made steady progress in building up the ranks of party officials, and deepened our efforts to comprehensively govern the Party with strict discipline.

2020 is the final year of the 13th Five-Year Plan, the meeting said. For the past five years, fiscal reform and development of work through a period of extraordinary struggle, have also made significant new achievements, further enhance financial strength, maintaining high intensity of fiscal expenditure, tax cuts JiangFei unprecedented, the people's livelihood investment increased year by year, the national major strategic support well, push deeper fiscal and taxation system reform, participation of global economic governance is promoted. In the great practice of securing a decisive victory in building a moderately prosperous society in all respects and fighting poverty alleviation, the concept, thinking and methods of fiscal work have been further improved, and the understanding of the law of doing fiscal work well has been further deepened. First, we will pay more attention to "government" as the guide for "wealth", ensure the direction of quasi-fiscal work, and effectively manage the "responsible land" entrusted by the CPC Central Committee. Second, we will pay more attention to invigorating the market, improve macro-control over public finance, and strengthen cross-cycle design and counter-cycle regulation. Third, we will pay greater attention to being precise and effective, improve fiscal and tax policies, and work to address weak areas. Fourth, we will pay more attention to saving and improving the livelihood of the rural people, adjust and optimize the structure of spending, and make good use of our money where it is most needed. Fifth, we will pay more attention to tapping potential inside, promote fiscal and tax reform and fiscal management in a coordinated way, and improve fiscal governance effectiveness. Sixth, we will pay more attention to coordinating internal and external affairs, deepen international financial and economic exchanges and cooperation, and promote opening-up at a higher level.

The meeting stressed that the goals and tasks of the 13th Five-Year Plan are about to be completed, and a new chapter of the 14th five-year Plan is to be started. As we embark on a new journey to build a modern socialist country in all respects, financial departments should consciously assume the historical mission entrusted by the Party and the people, earnestly perform their duties and fulfill their responsibilities, and make positive contributions to making a good start and making good progress in building a modern socialist country in all respects. First, we must uphold and strengthen the overall leadership of the Party and effectively implement the principle of "two safeguards" in all aspects of our fiscal work. Second, we should adhere to the new concept of development and give full play to the guiding and driving role of public finance in building a new development pattern. Third, we strengthened planning for fiscal resources and pooled financial resources to accomplish major tasks. Fourth, we will continue to put the people first and improve people's wellbeing. Fifth, we should work hard and be diligent and thrifty, and make it a long-term policy for Party and government organs to tighten their belts. Sixth, we will adhere to the spirit of reform and the rule of law, and work to modernize public finance to better support China's governance system and capacity. Seventh, we will continue to coordinate development and security, and be on high alert to guard against major risks in the fiscal field.

The meeting stressed that 2021 is a year of special importance in the process of China's modernization drive. The 14th Five-Year Plan has begun and a new journey of comprehensively building a modern socialist country has begun. It is of great significance to do a good job in fiscal and economic work. Do a good job in fiscal 2021, new era to xi jinping, the thought of socialism with Chinese characteristics as a guide, fully implement the party's in the 19th and the 19th session of 2, 3, 4, and fifth plenary session of the central economic work conference spirit, always adhere to seek improvement in stability work tone, based on the new stage of development, carry out new development concept, build a new development pattern, with the development of high quality as the theme, to deepen the reform of the supply side structural as the main line, to reform and innovation as fundamental dynamics, the good life is to meet people's increasing need for fundamental purpose, adhere to the concept of system, consolidate the expanding epidemic prevention and control and economic and social development achievements, We will better coordinate development and security, do a solid job in ensuring stability, fully implement the tasks for ensuring social security, and implement macro policies in a scientific and precise manner. We will strive to keep the economy operating within a reasonable range, adhere to the strategy of expanding domestic demand, strengthen the strategic support for science and technology, and open up wider to the outside world at a high level. We will pursue a proactive fiscal policy that is more qualitative, more effective and more sustainable. We will strengthen overall planning of fiscal resources, maintain an appropriate intensity of spending, increase efforts to optimize the structure of spending, and increase financial support for major strategic tasks of the state. We will work hard, practice thrift, and make careful calculations, and fully implement the requirements for party and government organs to live a tight life. We will accelerate the establishment of a modern fiscal and taxation system, and strengthen budgetary constraints and performance-based management. We will strengthen management of local government debt, effectively defuse risks associated with hidden local government debt, ensure a good start during the 14th five-year Plan period, and celebrate the 100th anniversary of the Founding of the CPC with outstanding achievements.

It is required that in 2021, we will give full play to the role of public finance, firmly focus on supply-side structural reform, focus on demand-side management, take a good first step in building a new development pattern, see a new outlook, and do a solid job in the following 10 key tasks.

First, we implemented a proactive fiscal policy in a precise and effective manner to keep the economy operating within an appropriate range. We will further improve and implement the direct funding mechanism, expand the scope of direct funding from the central government, and improve the management of direct funding. We will continue to cut taxes and fees and maintain policy continuity. We will make good use of special bonds issued by local governments and improve their performance in using bond funds.

Second, we will strengthen fiscal and tax policy support and guidance and firmly implement the strategy of expanding domestic demand. We will improve the investment structure and actively expand investment space. We will step up regulation of taxes, social security, and transfer payments to boost consumer spending. We will implement China's major regional strategies. We will promote a new type of urbanization that puts people at the core.

Third, promote innovative development and industrial upgrading, and improve the quality, efficiency and core competitiveness of the economy. We will continue to make science and technology a key area of government spending, make breakthroughs in key and core technologies, and support efforts to make science and technology more independent and self-reliant. We will further rebuild the industrial base and upgrade industrial and supply chains. We will give full play to the role of government-run financing guarantee agencies and stimulate enterprises to innovate.

Fourth, we will continue to do our best and act within our means to improve basic livelihood. We will give high priority to employment, promote high-quality development of education, steadily raise the level of social security, improve the management of social security funds, promote the building of a healthy China, and support the development of cultural undertakings.

Fifth, we will improve fiscal support for agriculture and rural areas and support rural revitalization in all respects. We will ensure national food security, improve the quality and efficiency of agriculture, and support efforts to consolidate and expand the achievements of poverty alleviation and promote rural revitalization.

Sixth, we will continue to match investment with the task of tackling pollution and vigorously promote green development. We will strengthen pollution prevention and control, promote key ecological conservation and rehabilitation, actively support efforts to address climate change, and significantly improve the ecological environment.

Seventh, we will prevent and defuse risks in key areas to ensure sound and sustainable fiscal and economic performance. We will work to effectively defuse hidden debt risks of local governments. We will give priority to spending on the "three guarantees" and resolutely guard against risks at the community level.

Eighth, adhere to the system integration, synergy and efficiency, accelerate the establishment of a modern fiscal and taxation system. We will improve the local tax system, study ways to improve the individual income tax system that combines both comprehensive and classified measures in due course, carry out reform to divide the fiscal powers and expenditure responsibilities of the central and local governments in areas such as intellectual property protection and old-age insurance, deepen reform of the budget management system, and make solid progress in reforming state-owned assets and state-owned enterprises.

Ninth, we will improve institutions and mechanisms and further strengthen fiscal management and oversight. We will strengthen the administration of budget implementation, accelerate the integration of budget management, improve the financial and accounting supervision systems and mechanisms, better leverage the role of regulatory agencies, and improve the performance of government funds.

Tenth, deepen practical financial and economic cooperation with other countries and open up new space for international cooperation. We will be deeply involved in the reform of the global economic governance system, promote trade and investment liberalization and facilitation, and better serve the overall interests of reform and development.

The meeting stressed the need to uphold and strengthen the Party's leadership over financial work and comprehensively improve the quality of party building in the financial system. We will focus on making learning and education more targeted and effective, and better equip our minds with the Party's innovation theory, guide practice, and promote work. We will firmly establish the awareness of political organs, and continue to enhance our ideological, political, and operational awareness in the practice of "two safeguards." We will resolutely implement the party's organizational line for the new era and work hard to build a contingent of loyal, clean and responsible financial cadres of high quality. We will continue to improve party conduct and discipline and unswervingly promote party conduct and clean government. We will do a solid job in rectifying inspections by the Central government and turn the results of these rectifications into a powerful driving force for fiscal reform and development.

Shi Yaobin, director of the Budget Work Committee of the STANDING Committee of the National People's Congress, member of the Leading Party Members' Group of the Ministry of Finance, and representatives of specially invited departments attended the meeting. Leading members of departments and bureaus of the Ministry of Finance and affiliated institutions in Beijing attended the meeting at the main venue. The heads of finance departments (bureaus) of all provinces, autonomous regions, municipalities directly under the Central Government, cities separately listed in the state Plan and Xinjiang Production and Construction Corps, as well as leading officials of all local regulatory bureaus and units outside Beijing attended the meeting in the form of video clips.

Source: Ministry of Finance, PRC