Ministry of Finance's Budget Expenditure Exceeds 30 Trillion Yuan for the First Time
Prefer us on GoogleAt a press conference held by the State Council Information Office, Liao Min, Vice Minister of Finance, announced that this year's budget expenditure has exceeded 30 trillion yuan for the first time. The scale of new government bonds has reached 11.89 trillion yuan, the largest in history. Central government transfers to local governments have exceeded 10 trillion yuan for the fourth consecutive year, reaching 10.42 trillion yuan. In the second half of the year, fiscal policy will continue to focus on accelerating fund utilization, expanding domestic demand, and strengthening fiscal reform management. The Ministry of Finance will plan and implement practical incremental policies in a timely manner based on the macroeconomic situation to support effective qualitative improvement and reasonable quantitative growth of the economy.
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