Nearly 20000 projects supported by local government special bonds in the first half of the year, including benefiting people's livelihoods, addressing weaknesses, and enhancing strengths and weaknesses | News | Government
CCTV News: This morning, the Ministry of Finance held a press conference to announce the fiscal revenue and expenditure situation for the first half of 2023. Data shows that in the first half of the year, the general public budget revenue in China increased by 13.3% year-on-year, with a relatively high increase in fiscal revenue.
Data shows that in the first half of the year, the national general public budget revenue was 11920.3 billion yuan, a year-on-year increase of 13.3%. Among them, the central general public budget revenue was 5388.4 billion yuan, a year-on-year increase of 13.1%.
![Nearly 20000 projects supported by local government special bonds in the first half of the year, including benefiting people's livelihoods, addressing weaknesses, and enhancing strengths and weaknesses | News | Government](https://a5qu.com/upload/images/2e239f0cf2084fef066bd88e13e7c9be.jpg)
Xue Xiqian, Deputy Director of the National Treasury Payment Center of the Ministry of Finance: The growth rate of fiscal revenue is relatively high. In addition to the economic recovery driven growth, it is mainly due to the implementation of a large-scale value-added tax retention and refund policy starting from April last year, with more concentrated tax refunds and a lower base. As a result, tax revenue, especially domestic value-added tax, has significantly increased, correspondingly driving up the growth rate of fiscal revenue.
From the perspective of tax revenue, in the first half of the year, the national tax revenue was 9966.1 billion yuan, a year-on-year increase of 16.5%. Among them, the domestic value-added tax increased by 96%, mainly due to the high number of tax refunds and low base in the same period last year. From the perspective of non tax revenue, in the first half of the year, the national non tax revenue was 1954.2 billion yuan, a year-on-year decrease of 0.6%.
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Xue Xiqian, Deputy Director of the Treasury Payment Center of the Ministry of Finance: From the perspective of later income trends, the overall recovery of China's economic operation will provide important support for the growth of fiscal revenue. But with the gradual recovery of the normal situation of retained tax refunds in the second half of last year, the incomparable factor of the year-on-year decrease in retained tax refunds in the second half of this year will gradually fade away, and the monthly fiscal revenue growth rate will correspondingly decline, which is in line with the growth of economic tax sources.
Ministry of Finance: Nearly 20000 local government special bond support projects in the first half of the year
![Nearly 20000 projects supported by local government special bonds in the first half of the year, including benefiting people's livelihoods, addressing weaknesses, and enhancing strengths and weaknesses | News | Government](https://a5qu.com/upload/images/28601897dc0aa01a08bba8131eac5b44.jpg)
At the press conference, the relevant person in charge of the Ministry of Finance also introduced that in the first half of this year, local government special bonds have cumulatively supported nearly 20000 projects.
Data shows that in the first half of this year, various regions issued 2172.1 billion yuan of special bonds for project construction, supporting the implementation of a large number of projects that benefit people's livelihoods, fill gaps, and strengthen weak areas.
![Nearly 20000 projects supported by local government special bonds in the first half of the year, including benefiting people's livelihoods, addressing weaknesses, and enhancing strengths and weaknesses | News | Government](https://a5qu.com/upload/images/981a19fcb0812497579c3fd323526311.jpg)
Li Dawei, Deputy Director of the Budget Department of the Ministry of Finance: In the first half of the year, nearly 20000 special bond projects have been supported, with priority given to supporting the construction of major national strategies and projects. Among them, 727.5 billion yuan was used for municipal construction and industrial park infrastructure, 421.1 billion yuan for transportation infrastructure, 358.8 billion yuan for social undertakings, and 326.7 billion yuan for affordable housing projects, which played an important role in driving the expansion of effective investment and maintaining stable economic operation.
Li Dawei introduced that in the first half of this year, approximately 200 billion yuan was used as project capital in various regions, mainly concentrated in the field of transportation infrastructure, with nearly half being used for major national strategic projects.
![Nearly 20000 projects supported by local government special bonds in the first half of the year, including benefiting people's livelihoods, addressing weaknesses, and enhancing strengths and weaknesses | News | Government](https://a5qu.com/upload/images/ab4eb879a80486d0add844aa1e97c7b7.jpg)
Li Dawei, Deputy Director of the Budget Department of the Ministry of Finance: Special bonds must be used for the construction of profitable public welfare projects. The project supervisory department and project units are required to analyze the balance of project financing income in detail. Financial departments at all levels also regard the balance of financing income as a key point of review. Those who do not meet the conditions are not allowed to be included in the special bond project database, nor are they allowed to apply for special bond funds to effectively prevent the risk of special bond repayment.
The relevant person in charge of the Ministry of Finance stated that the next step will continue to issue notifications and warnings on the progress of special bond expenditures in various regions, guide local governments to accelerate the pace of special bond issuance and use, actively play the positive role of special bonds in driving effective investment, and use stable investment to drive stable employment and growth, better leveraging the effectiveness of special bonds.
![Nearly 20000 projects supported by local government special bonds in the first half of the year, including benefiting people's livelihoods, addressing weaknesses, and enhancing strengths and weaknesses | News | Government](https://a5qu.com/upload/images/24fa4b0426942af57261a67a42ca63ea.jpg)