today we convened the national financial department (bureau) long symposium, new era theme in jinping thoughts as the instruction, socialism with chinese characteristics in the national fiscal system thoroughly study and apply xi general secretary of the important speech spirit, the implementation of the national annual spirit and deployment of the government work report, and to analyze the current financial revenue and expenditure situation, research decorate a budget for the next stage.
first, improve the political position, and earnestly enhance the consciousness and firmness of implementing general secretary xi jinping's important speech and the spirit of the npc and cppcc
this year's npc and cppcc is a major political event held in china under the special international and domestic circumstances. from the perspective of the overall work of the party and the state, general secretary xi jinping has stressed the importance of putting the people first, relying firmly on the people, constantly benefiting the people and firmly rooted in the people, and putting the people-centered development philosophy into all decisions, plans and practical work. it emphasizes that we should analyze the current economic situation from a comprehensive, dialectical and long-term perspective, and strive to foster new opportunities in the midst of crisis and make new progress in the midst of changes. we stressed the importance of overall planning, systematic remodeling and overall improvement, and the need to build a tightly woven public health protection net. we stressed that it is of vital importance to ensure stability and ensure the implementation of the six guarantees, which are an important guarantee for us to cope with various risks and challenges. we must work proactively on the basis of these guarantees. general secretary xi jinping's important speech, which shows great political wisdom, profound strategic thinking, firm strategic resolve and profound feelings for the people, points out the way for us to do our work well and provides fundamental guidance. the report on the work of the government makes a comprehensive plan for this year's economic and social development. after the close of the two sessions, premier li keqiang further laid out clear requirements for ensuring stability and ensuring economic growth.
the impact of the epidemic has posed unprecedented challenges to china's economic and social development. the central committee of the communist party of china (cpc) has made a major decision in response to the new situation. general secretary xi jinping attaches great importance to it. he personally takes the helm and makes plans, and has presided over many meetings for research and deployment. we need to learn from and fully understand the guiding principles of general secretary xi jinping's important instructions on maintaining stability and ensuring social stability, resolutely implement the decisions and plans of the cpc central committee, and make good use of the role of public finance as the foundation and an important pillar of national governance.
1. fully recognizing the importance of ensuring stability and ensuring social stability and fulfilling the tasks of ensuring social stability. sticking to the general tone of seek improvement in stability is an important content of xi jinping thought on socialist economy with chinese characteristics in the new era and an important methodology to promote the sustainable and healthy development of china's economy. the "six stabilizations" and the "six guarantees" are scientific arrangements for the realization of seek improvement in stability under different circumstances. they are consistent in their goals, complementary to each other, consistent and unified. "six stability" is the implementation of the seek improvement in stability work of the general tone of the concrete grasp, "six guarantee" is this year's "six stability" work focus. under the current circumstances, we must firmly uphold the bottom line of "ensuring stability" by ensuring stability, buy time and create conditions to tide over the difficulties, and lay a solid foundation for ensuring the completion of the decisive battle against poverty and completing the building of a moderately prosperous society in all respects.
2. accurately grasping the key tasks for achieving the goal of "six stability" and implementing the requirements for "six guarantees". both the "six stability" and the "six guarantees" are very important, but we should also pay attention to the key points. the pressing task now is to do everything possible to stabilize employment and ensure employment. we will take targeted measures to stabilize the total number of jobs, improve the employment structure, and raise the quality of employment. employment is the foundation of people's livelihood. as long as there are jobs, people will have income, and as long as the basic livelihood of the people is guaranteed, there will be a material foundation. to create jobs, we need to ensure market players, the stability of industrial and supply chains, food and energy security, financial, foreign, foreign, and investment stability, and guide market expectations to stabilize the basic economic fundamentals. at present, both the global epidemic and the economic and trade situation are highly uncertain, and china's development faces many unpredictable factors. in view of the overall economic and social development, we must ensure the bottom line of people's livelihood and ensure the normal operation of the community.
3. we will increase our political and operational awareness of ensuring stability and ensuring social security. the central committee of the communist party of china (cpc) needs to make clear requirements and work plans for a more proactive fiscal policy. the report on the work of the government devotes a large part to the elaboration of a proactive fiscal policy. we should strengthen the consciousness of "four", firm "four confidence", "two maintenance", conscious thought and action unity to xi jinping, general secretary of the important speech spirit and the deployment of the cpc central committee decision, do it concurrently, some of the ideas of people centered development, take the initiative to put the financial work in the general situation of the party and national business development go to think, plan, strengthening bear responsibility, active play to the functions of finance, to complete the final showdown poverty crucial goal task, contributions to build a well-off society in an all-round way.
second, we will resolutely implement the requirement that we pursue a more proactive fiscal policy and make it more effective, and fully support efforts to ensure stability and ensure social stability
general secretary xi jinping attaches great importance to implementing a proactive fiscal policy and effectively hedging against the impact of the epidemic, and has made important instructions on many occasions. on february 23, general secretary xi jinping stressed at the meeting on covid-19 prevention and control as well as the deployment of economic and social development that proactive fiscal policies should be more proactive and proactive, and the policies such as fiscal interest discount, large-scale fee reduction and tax holding should be implemented to enterprises as soon as possible. at a meeting of the political bureau of the cpc central committee on april 17, general secretary xi jinping called for a more proactive fiscal policy, raising the deficit-to-gdp ratio, issuing special bonds to fight the epidemic, increasing the use of special bonds issued by local governments, and truly playing a key role in stabilizing the economy. premier li keqiang and other leading members of the state council have also issued instructions and instructions on this issue many times and put forward clear requirements.
to sum up, the proactive fiscal policy measures this year are mainly to send a "signal" and make four "hedges". first, we need to appropriately raise the deficit-to-gdp ratio and clearly send a positive signal. at a special time, we took special measures to raise the deficit to gdp ratio from 2.8% to over 3.6% and increase the deficit by 1 trillion yuan over last year. we worked hard to hedge against the impact of the epidemic on revenue and spending, so as to stabilize the situation and boost market confidence. second, increase government investment to hedge against downward economic pressure. we will allocate 3.75 trillion yuan in new special bonds to local governments, an increase of 1.6 trillion yuan over last year, and allocate funds to local governments for overall use in accordance with the principle that funds follow projects, with the focus on infrastructure projects supported by the state and guaranteed by asset returns. one trillion yuan of special national debt was issued to combat the epidemic. we will increase the use of funds carried forward and carried over from various sources, increase available financial resources through multiple channels, and make up for the gap between reduced revenue and increased spending. third, we will increase tax and fee reductions to hedge against business difficulties. we will strengthen phased policies and combine them with institutional arrangements to focus on reducing the tax burden on small, medium-sized, and micro businesses, self-employed businesses, and enterprises in industries with difficulties. it is estimated that over the course of the year, more than 2.5 trillion yuan will be added to the burden on market entities. fourth, we will increase transfer payments to offset the pressure of the "three guarantees" at the grassroots level. the newly increased government deficit and the special national debt issued to combat covid-19 were all allocated to local governments, and the funds were used to ensure the implementation of the "six guarantees" program and to cut taxes and fees. we will establish a special transfer payment mechanism and increase financial support to local governments. fifth, we need to balance the budget and hedge against the impact of the epidemic. the central government strives to solve the problem of revenue reduction through economic growth in the course of implementation. while reducing expenditures at the central level, it also increases transfer payments to local governments so as to achieve a balance between revenues and expenditures.
in terms of the scale of spending, the strength of proactive fiscal policy is unprecedented and takes into account the uncertainties that may exist in the second half of the year. the pressing task now is to implement all policies and measures, ensure that fiscal policies and funds are effective as soon as possible, and give full play to the key role of stabilizing economic growth.
1. the allocation of government funds should focus on key areas, improve quality and increase efficiency. the scale and intensity of this year's proactive fiscal policy are large. we need to keep to the right direction, focus on implementing the new development philosophy, advancing supply-side structural reform, fighting the three major battles, and promoting industrial transformation and upgrading. we need to focus our efforts on ensuring stability and ensuring social security. it is necessary to strengthen the management of financial funds, examine and approve one project after another, follow up and monitor the whole process, resolutely prevent projects from being completed in batches and funds from being allocated in batches, put an end to the phenomenon of "no mud washing when the carrot goes fast", and effectively improve the efficiency of using funds.
2. resolutely implementing the policy of reducing taxes and fees. this year, we will continue to implement the policy of lowering the value-added tax rate and the corporate pension insurance premium rate in 2019, resulting in about 500 billion yuan in tax and fee reductions. early has introduced the main tax cuts expire before the end of june jiangfei policies, including micro, small and medium enterprises shall be exempted old-age, unemployment and inductrial injury insurance unit pay cost and small-scale vat taxpayer relief, exemption of public transportation, catering accommodation, tourism, entertainment, culture and sports services such as vat, breaks the airlines, civil aviation development fund, port construction fee, execution period all extend to the end of the year. the income tax on small and micro businesses and individual businesses will be deferred until next year. we will resolutely implement the policy of reducing taxes and fees, and do our best to help enterprises, especially small, medium-sized and micro businesses, and individual businesses, weather the storm. we will strengthen coordination with tax authorities, organize revenue in accordance with laws and regulations, and prohibit the collection of "excessive taxes", illegal tax collection and inflated revenue.
3. putting to good use existing funds, resources and assets. as a result of the epidemic, government revenue at all levels has been substantially reduced this year, and some new policies have been introduced to reduce taxes and fees, further increasing the pressure to balance government revenue and expenditure. in an unprecedented move to reduce expenditures at the same level, the central government actively used carryover and surplus funds from previous years to transfer funds to the central budget stabilization fund to make up the shortfall in revenue and expenditure, and increased transfer payments to local governments. local governments should also take active measures to recover all kinds of surplus and idle carry-over funds and redeploy them, increase budgetary allocations for the budget stabilization fund and state capital operations, strive to increase government revenue, and create conditions for implementing the policy of reducing taxes and fees and ensuring key expenditures.
4. strengthening the administration of budget implementation. at present, the central government has completed the approval of the budgets of its departments, and the central government is releasing the budgets for transfer payments to local governments in a timely manner. local financial departments should also encourage them to translate funds into specific projects as soon as possible, so as to give full play to their financial efficiency and policy role as soon as possible. it is necessary to closely track the progress of budget implementation, strengthen analysis of budget implementation, and save expenditures that can no longer be arranged in implementation in accordance with the principle of saving on a provincial basis.
third, we will establish a mechanism that allows funds to go directly to the community level and directly to the people's wellbeing, and ensure that fiscal and tax policies and measures take effect as soon as possible
the report on the work of the government clearly requires that a total of 2 trillion yuan be used to increase the government deficit and issue special treasury bonds. all of these funds should be transferred to local governments, directly to the cities and counties and directly to benefit enterprises and the people. the use of funds is an innovation in the way of macro-control, and it also puts forward new and higher requirements for the management of fiscal funds. all localities should strictly implement relevant regulations on capital management in their implementation, pay more attention to helping enterprises and giving full play to market forces to stabilize the basic economic fundamentals.
1. clarify the principles and refine the process. on the premise of not changing the budget management procedures and the main body of fund allocation, we will improve the relevant transfer payment allocation procedures in accordance with the principles of "central cutting, provincial elaboration, scheme review and rapid direct delivery". the general process design is that the central finance is divided into provincial finance departments according to relevant factors, and the provincial finance departments propose a detailed plan to the city and county level. after the examination and approval of the ministry of finance, the provincial finance departments will reach the city and county within a specified period of time, and it is strictly prohibited to postpone the allocation, withhold and divert funds. funds included in local government deficits, regular transfer payments and special transfer payments, as well as funds included in the budgets of government-managed funds for special government bonds to combat the epidemic, should be managed in an orderly manner according to their respective characteristics and in accordance with the above basic principles and procedures.
2. strengthen responsibility and make good use of funds. the central government has done its utmost to provide support to the grassroots level. local governments need to follow through on the central government's decisions and arrangements, keep their soil accountable, and allocate valuable fiscal funds to the most difficult areas and areas in urgent need. work responsibilities must be compacted. provincial-level governments bear the primary responsibility for implementation. provincial-level financial departments should strengthen the overall allocation of financial resources, allocate more financial resources to the grassroots level, optimize the distribution of financial resources within the province, and improve the level of financial balance. this will be a red line in our fiscal work this year. financial departments at the municipal and county levels at the grassroots level should rationally coordinate transfer payments at the higher levels with their own financial resources, make scientific arrangements for their budgets, and effectively ensure their key spending needs. make good use of direct funds. this year, the direct funds allocated by the central government will directly benefit enterprises and the people, and ensure employment, market entities and the basic livelihood of the people. all these funds will fall on enterprises, especially micro, small and medium-sized enterprises, as well as on social security, subsistence allowances, unemployment benefits, old-age support and people living in extreme poverty. after receiving direct funds, the financial departments at the grass-roots level of cities and counties shall standardize the allocation and use of funds.
3. strengthen monitoring and take accountability seriously. the ministry of finance will rely on the dynamic monitoring platform for poverty alleviation funds, set up the direct funds monitoring system, and set up the direct funds ledger, so as to comprehensively grasp the whereabouts and use of funds and ensure that there are accounts to check. the direct funds monitoring system should be connected with the treasury centralized payment system, so as to ensure the verification of funds distributed to individuals and enterprises. local financial departments should act in strict accordance with the unified deployment requirements of the ministry of finance, do a timely and efficient job in system construction, data conversion and data collection and feedback, strengthen daily supervision and key monitoring of funds, hold the existing problems to account, and resolutely put an end to interception and embezzlement. at the same time, local governments should continue to strengthen integrated budget management to provide support for the management and monitoring of various types of funds.
fourth, we will conscientiously implement the government's requirement to live on a tight schedule and strictly reduce non-urgent and non-rigid expenditures
general secretary xi jinping has repeatedly stressed the importance of upholding the principles of hard work and diligence and thrift. the purpose of the government to tighten its purse strings is to let the people lead a better life. this is a long-term policy, not a short-term response. especially in the current special period of responding to the impact of the epidemic, the situation of fiscal revenue and expenditure is unprecedentedly severe, and the tight life is of more important practical significance. at all levels of government really contends, is to take the initiative to do "subtraction" through government spending, in exchange for market dynamics and enterprise benefit "additive" "multiplication", government spending, saving all first guaranteed stable "six" "six protect" focus on spending, such as the limited and precious money to use on the blade, implement enterprise polity, activate the market. the financial departments should earnestly perform their duties, firmly establish a people-centered development philosophy, adhere to the principle of conserving resources and ensuring the well-being of the people, and take the lead in ensuring that the government's requirement of living on a tight schedule is fulfilled.
1. the central government has taken the lead in tightening up. we will continue to live within our means, maintain some and do all we can, and break the basic concept and solidified pattern of spending. on the one hand, we vigorously reduced regular expenditures and substantially reduced expenditures and public funds for non-critical and non-key projects of the central government. on the other hand, we should strengthen the linkage mechanism between budget arrangement and implementation, review, audit and performance, and reduce project expenditure budget in a certain proportion for departments with a slow implementation schedule, a high rate of review and reduction, and recurring audit problems. for projects with poor performance evaluation results, the budget should be reduced or no longer arranged.
2. local governments at all levels should vigorously reduce regular expenditures. prophase, the ministry of finance has issued notice, from compression general spending, strictly enforce standards, strengthening the management of "three fairs" funds expenditure, hardening budget constraint, implement restrictions on special areas and departments, etc., to the local finance department put forward clear requirements. all localities should strictly implement the government's requirement to live on a tight schedule and, in the light of the actual conditions of their work, carefully implement each item to achieve results.
one is not to spend any money that should not be spent. we will strictly control the budget threshold for expenditures, reduce general expenditures, conduct a comprehensive review of the 2020 budget in accordance with the zero-based budget concept, and further reduce public expenditures for meetings, travel, training, and overseas visits, as well as expenditures for projects that can be postponed or discontinued due to the impact of the epidemic. we will strictly observe standards for expenditures, strengthen the examination and verification of financial reimbursement, and refuse to reimburse expenses that exceed those standards or have nothing to do with related official activities. we will resolutely put an end to extravagance and waste.
the other is to spend every penny where it is most needed. except for the prevention and control of covid-19 and emergency relief, no additional budget will be made during the implementation of the budget. for other major emergencies that really need additional budget, project review and demonstration and financial affordability assessment shall be carried out in advance and submitted for approval in accordance with the procedures. no budget shall be arranged for any item that has been assessed as unaffordable. we will strictly arrange expenditures in accordance with budgets, strictly prohibit spending that is not budgeted beyond budget, strictly standardize the management of temporary payments, strictly prohibit unauthorized borrowing or misuse of funds, prohibit the construction of new government buildings, and prohibit the construction of political or image projects.
the third is to make every cent spend the best effect. we should embed performance management into budget management in a substantive way, improve the quality of performance targets, strengthen the application of performance evaluation results, resolutely reduce inefficient and ineffective funds, optimize the structure of budget expenditure, and make the limited funds give full play to their greater benefits. through the implementation of the whole process of project budget performance management, to save administrative costs, harden the responsibility constraints, to truly make money to ask for efficiency, ineffective to accountability.
while vigorously reducing non-critical and non-rigid expenditures, we need to effectively ensure spending in key areas such as poverty alleviation. poverty alleviation is the top priority of the cpc central committee in all respects. to win the battle against poverty and complete the building of a moderately prosperous society in all respects as scheduled is a solemn commitment made by the cpc central committee to the entire chinese people. financial departments should resolutely implement the important directives of general secretary xi jinping, and fully support the decisive battle against poverty. should actively effective play to the functions of finance, stick to the current poverty standard crucial goals, continue to strengthen fiscal investment guarantee, further control crucial aim of in-depth study, in view of the gap, the short board, tonic. work, detailed financial demand and increase capital security, must not be allowed because of financial guarantee does not reach the designated position and influence of poverty crucial to achieve the goal of work. despite the serious imbalance between revenues and expenditures, this year the central government will continue to increase funding for poverty alleviation, and allocate more financial resources to the "three regions and three states" and other areas with deep poverty, areas under war supervision and areas heavily affected by the epidemic.
covid - this year 19 outbreak to achieve poverty alleviation works as scheduled task brings new challenges and local financial departments at all levels in the study to carry out the support epidemic prevention and control, to return to work and production, stable hillock employment policy, to give priority to poverty crucial factors, to increase support policy tilt, take concrete and effective measures to overcome the outbreak of the crucial influence out of poverty. we will strengthen special inspections to combat poverty and rectify problems related to "looking back". we should actively cooperate with the competent departments of the industry to check and fill the gaps, further consolidate the achievements of the "two without worry and three guarantees", and strengthen the guarantee for the people living in special poverty. we will do a good job of conducting inspections, inspections, inspections and inspections, and evaluating the effectiveness of poverty alleviation efforts, and make positive contributions to winning the battle against poverty as scheduled. at the same time, we will vigorously support pollution prevention and control, education, key and core technologies and other key areas so as to provide a strong guarantee for completing the building of a moderately prosperous society in all respects.
fifth, we will effectively ensure that the bottom line of the basic level of "three guarantees" is secured and that no problems arise
ensuring the basic needs of the people, their wages, and their working conditions bears on the performance of the government's responsibilities and the immediate interests of the people, and is an anchor for maintaining economic order and overall social stability. in recent years, china's economy has enjoyed sustained and sound development, and its financial security capacity at all levels has been constantly enhanced. in terms of budgetary arrangements, we have been able to meet the needs of the "three guarantees" at the community level. last year, we cut taxes and fees on a much larger scale, resulting in reductions in some local government revenue. this year, due to the impact of the epidemic, government revenues and expenditures have increased further, putting greater pressure on the "three guarantees" at the community level. we will increase the financial resources available to local governments and increase their ability to provide basic social security services.
1. allocating funds through multiple channels to actively fill gaps in local government funding for the "three guarantees". to effectively hedge the impact of local revenue and spending cuts and ensure that local government expenditures do not fall, the central government increased financial support to local governments by increasing fiscal deficits, issuing special government bonds to combat the epidemic, and vigorously reducing central government expenditures.
2. optimizing the way of fund management and ensuring that financial resources are used at the grassroots level. issued by the treasury has special "about effectively cope with covid - 19 outbreak strengthen conscientiously the work of local governments" miho "notice, from compaction security responsibility, periodic improve the retention rate, speed up the local fiscal fund issued a transfer payment budget etc to make deployment, put forward clear requirements, to ensure that money sinks to the grassroots, used to make up for the local finance" miho "new gap. going forward, we will continue to follow relevant requirements for implementation.
3. strengthening monitoring, supervision and allocation of treasury funds to effectively meet the needs of community-level expenditures for the "three guarantees". we will improve the monitoring mechanism from the central government to the provinces and provinces to cities and counties. we will follow up and monitor all levels of treasury funds in a timely manner. we will monitor and give early warning of wage security at the county level on a daily basis, and report to local governments monthly on the level of financial treasury funds.
making sure that the bottom line for ensuring basic government services is ensured at the grassroots level is a tough task for this year's fiscal work, which requires the joint efforts of the central and local governments. we should deeply recognize the importance of do a good job "miho, urgency, and fulfill the responsibility earnestly, play a role of function, the provincial public finance should earnestly shoulder the responsibility, as a whole the central transfer payments and their own money at the provincial level, strengthen financial sinking, for at the county level of the transfer payment scale can only increase, not decrease, ensure that financial resources at the county level is not lower than the previous year. we need to accurately measure gaps in county budgets, optimize the distribution of financial resources within the province in line with the principle of ensuring the basic needs and ensuring the bottom line, strengthen monitoring of the implementation of the "three guarantees" program at the county level, and supervise, urge, and guide the precise and efficient use of funds. county-level fiscal departments should fully implement their responsibility for ensuring the safety of the three guarantees, and prioritize their expenditures in the budget arrangement and the allocation of funds for the three guarantees. other expenditures can only be arranged after the national standard three guarantees is in place.
sixth,accelerating the issuance and use of government bonds and bringing into full play the efficiency of bond funds as soon as possible
local governments should further improve their funds management mechanisms for government bonds, balance the timing of bond issuance, and do a good job in all aspects of bond issuance and use.
1. we should give full play to the pulling effect of special bonds on the economy. we will adhere to the principle of "funds follow projects." we will use special bond funds mainly for key areas and major strategic projects identified by the central government to stimulate private investment, and effectively support efforts to strengthen weak links, benefit the people, promote consumption, and expand domestic demand. local governments should step up their efforts to reserve and prepare for projects, and make good use of special bonds as a policy of capital for eligible major projects, so as to play a guiding role and stimulate greater investment by nongovernmental capital. we will strengthen communication and coordination among government departments, speed up the issuance and use of bonds, promote the construction of a number of major projects, and form an early physical workload.
we will strictly examine the compliance of special bond projects and control their risks. special bonds must be used for major projects with certain income, and the scale of financing should be kept in balance with the project income. we will ensure that local government bond funds can only be used for public welfare capital expenditures in accordance with the law, and cannot be used for regular expenditures. we will strictly prohibit the use of special bond funds for the payment of wages, operating expenses and pensions. we will strictly enforce the obligation of local government bonds to repay when they mature and ensure that local government bonds do not carry any risks.
2. we will manage and use funds from special government bonds to fight covid-19. as a special policy adopted in a special period, the issuance of special national debt to combat the epidemic is an important part of the policies to ease the difficulties of enterprises and stimulate the market vitality. local financial departments at all levels should strengthen the management and use of bonds, focus on the "six stability" work, implement the "six guarantee" task, and effectively improve the efficiency of funds. special national debt for fighting covid-19 will be issued by the central finance and brought under the administration of the central government's limit on the balance of national debt. to ease the burden on local governments, the central government will fully pay the interest on the special debt, and the central and local governments will jointly repay the principal. all localities should make arrangements in strict accordance with relevant regulations.
seventh, strengthening local government debt management to ensure that no systemic risks occur
the cpc central committee attaches great importance to the issue of local government debt. we should firmly implement the party central committee and the state council decision deployment, strictly implement the overall responsibility of the provincial party committee and government requirements, sets up the risk consciousness and the bottom line of thinking, always attaches great importance to prevent debt risk in the current complex situation, can't because of the outbreak response do not take the debt risk, not because of financial difficulties in the borrowing violations manufacturing new risks, never to leave sequela to solve short-term problems.
since last year, thanks to the concerted efforts of financial departments at all levels, some achievements have been made in the management of local government debt, and the debt ratio of local governments nationwide has been steadily reduced. on the one hand, the statutory debt ratio has risen slightly, and the risks are generally under control. on the other hand, the spread of illegal and disorderly borrowing by local governments has been initially contained, and the hidden debt risks have been further eased. all localities should do a good job in preventing and defusing hidden debt risks of local governments.
we will strengthen accountability for illegal borrowing. we will strictly implement relevant systems and regulations, strengthen oversight and accountability, and strictly prevent local governments from issuing debt in a disorderly manner. we will hold local governments accountable for their actions throughout their lives and hold them accountable if they fail to do so. all localities should implement the accountability measures for the hidden debts of local governments, resolutely curb the increase of hidden debts, and prudently handle the stock of debt. we will strictly investigate and hold accountable those places that ignore risks and continue to incur hidden debts in violation of laws and regulations. we will find, investigate and hold accountable all of them together, so as to effectively deter them and ensure that no systemic risks occur.
finally, i want to stress that we must grasp the starting point, foothold and focus of our work and earnestly implement all policies and measures in place. we should resolutely implement the general secretary xi important speech spirit, the implementation of the national annual spirit and the government work report deployment requirements, do a good job in financial reform and development must set up correct authority view, view, and they, not vanity, not the case, not a false reputation, strengthen responsibility to bear all the policies and measures to grasp the real or fine. first, uphold the supremacy of the people and bring constant benefits to the people. people centered to the development of ideas, to implement all policy decisions and practical work, highlight the commonality of fiscal fairness, accurate power, make up short board, pay more attention to the key point, difficult crowd support, pay close attention to the needy quantity, difficult to face and changes in the degree of difficulty, ensure the basic life, determined to take fast line of the basic livelihood of the people. second, we should both base ourselves on the present and take a long-term view. we will strengthen overall planning of our work. in formulating policies and allocating funds, we must, on the one hand, keep in mind the current priorities and difficulties, and resolutely fight the three major battles to ensure stability and ensure full implementation of the six guarantees. on the other hand, we need to strengthen medium - and long-term strategic planning, give targeted support to major plans, reforms and policies that have a bearing on high-quality development and efficient governance, and take the initiative in tackling the crisis and in pursuing development. third, pay attention to the linkage up and down, strengthen coordination and cooperation. we will strengthen the idea of "one board of chess" across the country, strengthen coordination between the central and local governments, and form a strong synergy in responding to the impact of the epidemic, implementing fiscal and tax reforms, strengthening fiscal revenue and expenditure management, and enhancing fiscal sustainability and sustaining economic and social development. we will actively innovate our working methods, make our policies and measures more flexible, coordinated and complementary, and strive to achieve maximum policy effect. fourth, we should be strict in our work and improve our work style. we will strictly observe financial and economic laws, regulations and systems, earnestly strengthen budget implementation and safe management of financial funds, vigorously support and actively cooperate with discipline inspection and supervision institutions and audit departments in performing their supervisory duties, and hold accountable those who violate financial and economic discipline. we must seek truth from facts, respect objective laws, channel more forces and resources to the community at large, work hard to achieve practical results and achieve real results, and refrain from formalism and bureaucracy.
comrades, we need to coordinate epidemic prevention and control with economic and social development, and do a good job in fiscal budgeting. we have to unite more closely around the party central committee with comrade xi as the core, insist on socialism with chinese characteristics in jinping new era as a guide, grasped the nettle, work diligently, active play to the functions of finance, the effort to finish the year target tasks, in order to realize "two" one hundred goals, realizing the great rejuvenation of the chinese nation's dream to make new contributions to china.
source: ministry of finance, prc