Source: CCTV News. CCTV reporters: Zhu Jihua, Zhao Shuguang, Wang Lei, Tian Qiyong, Zhang Hao.

In the past few days, Lao Wang attended the National Financial Work Conference and gained further insights into more proactive fiscal policies.

One aspect of 'more proactive' is to raise the fiscal deficit ratio, increase the intensity of spending, and accelerate the pace of expenditures. It will also arrange for a larger scale of government Bonds to provide more support for stabilizing growth and adjusting the structure. Additionally, there will be optimization of the fiscal expenditure structure to ensure that funds more accurately benefit people's livelihoods, promote Consumer, and enhance the momentum for development. Overall, Lao Wang believes that next year's fiscal fund allocation will be earlier, faster, and with a larger amount of funding.

How will these affect our lives?

For example, issuing ultra-long-term special national bonds does not simply mean the state borrowing money from Institutions or LBX Pharmacy Chain Joint Stock; it provides everyone with an additional investment channel. More importantly, it means that the government can use the surplus funds to increase investments in economic construction and ensure people's livelihoods. Raising the deficit ratio is primarily aimed at safeguarding livelihoods and promoting development.

Which areas will next year's fiscal funds be prioritized for investment?

Minister of Finance Lan Foan:

Increase residents' income through multiple channels and raise the financial subsidy standards for urban and rural residents' medical insurance. Enhance support for replacing old consumer goods, actively develop service consumption, especially vigorously promote cultural tourism consumption.

Lao Wang understands that increasing residents' income and improving safety levels can boost everyone's confidence in consumption. Service consumption includes services such as Dining, Lodging, housekeeping, and Retirement, as well as cultural Leisure, Sports, and new growth points in digital consumption. Increasing financial support in these areas will not only expand consumption but also make everyone's lives more convenient and colorful.

Lao Wang also noted that next year, the areas where the finance will increase investment include prioritizing employment, Education, and Retirement. The three-tier Retirement service network in counties, townships, and villages, as well as the centralized care system for economically disadvantaged and disabled elderly individuals, are key focuses for improving livelihoods next year.

Finance is the foundation and an important pillar of national governance. Continuous and stronger fiscal policies will not only enable China's economy to progress more steadily and effectively next year, but also promote a more comprehensive protection of people's livelihoods.

Editor/lambor