Photovoltaic power generation

China’s Ministry of Finance issued subsidy budget. Photovoltaic wind power and other renewable energy generation get strong support !

89 billion in subsidies!China’s Ministry of Finance issued subsidy budget. Photovoltaic wind power and other renewable energy generation get strong support !

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China’s Ministry of Finance released the Report on The Implementation of China’s Fiscal Policy in the first Half of 2021. According to the report, eco-friendly and low-carbon energy continued to grow in the first half of 2021, with installed wind power and solar power up 34.7 percent and 23.7 percent year-on-year respectively. Sales of new energy vehicles reached 1.206 million units, up 139 percent year on year.

In addition, instructions about supporting for photovoltaic are also stated clearly by the Ministry of Finance in the report:

We will continue to improve our energy security capability. Optimize policies of subsidy electricity generated from renewable energy, allocate 89 billion budget of additional subsidy funds for Renewable energy tariff and support photovoltaic, wind power and other renewable energy generation. We will speed up the release of the list of subsidies and confirm their rights, and ease financing difficulties for renewable energy power generation companies.

solar energy system

Starting from this year, centralized photovoltaic power stations, industrial and commercial distributed photovoltaic projects, and onshore wind power projects will be added to promote the new stage of large-scale application. Suspend biomass power generation projects that do not meet emission standards and reduce corresponding subsidy funds to strengthen illegal supervision, forcing enterprises to reinforce emission control, achieve emission standards, and ensure the safety and effectiveness of subsidy funds.

The original report reads as follows:

Report on the Implementation of China’s fiscal Policies in the first half of 2021

Summary

2021 is the first year for implementing the 14th Five-Year Plan and embarking on a new journey to fully build a modern socialist country. In the first half of the strong leadership of the CPC Central Committee with comrade xi for the core, the regional various departments seriously the implementation of the CPC Central Committee and the State Council decision deployment, continues to consolidate expand epidemic prevention and control and economic and social development achievements, solid do a good job, the full implementation of “six steady” “six protect” task, accurate implementation of macroeconomic policies, China’s sustained economic recovery, good stability, stable Reform and opening up were intensified. People’s wellbeing was effectively guaranteed. New progress was made in high-quality development, and overall social stability was maintained. GDP grew by 12.7% year-on-year in the first half of this year, averaging 5.3% growth in the past two years. Major macro indicators were within a reasonable range.

Under the strong leadership of the CPC Central Committee, the Ministry of Finance to xi jinping, the new era of socialism with Chinese characteristics as a guide, adhere to seek improvement in stability work always tone, based on the new stage of development, carry out new development concept, build the new development pattern, seriously implement the “positive fiscal policy to increase quality and more sustainable” requirement, maintain the continuity and stability of the macro policies, Don’t turn, keep the necessary support of economic recovery, steady growth and risk prevention needs to give attention to two or morethings, reasonable arrangement of deficits, debt, spending, with greater efforts to adjusting and optimizing expenditure structure, strengthen the financial resources to plan as a whole, strengthen local government debt management, promote sustainable development of the finance, have to ensure that “difference”, a good step.

  1. Maintaining an appropriate intensity of spending and making government spending more sustainable Deficit this year by about 3.2%, is lower than last year, the size of the deficit of 3.57 trillion yuan, 190 billion yuan less than in 2020, as a whole the macroeconomic regulation and control and guard against financial risks, and improve the span cycle regulation mechanism, effective guarantee of the CPC Central Committee and the State Council determine the focus of the task, and to cope with the challenge of new risks leaving policy space in the future. Spending in the national general public budget exceeded 25 trillion yuan, an increase of 1.8%. We increased funding for major national strategic tasks and helped keep economic performance within an appropriate range. We allocated 3.65 trillion yuan to increase special bonds, 100 billion yuan less than last year, and actively forestalling local government debt risks. No special anti-epidemic bonds will be issued, and local spending on infrastructure development such as public health and basic livelihood will be guaranteed through normal channels.
  2. We continued to cut taxes and fees to energize market entities. We will continue to implement institutional tax reduction policies, extend the period for implementing some phased policies, including the VAT benefit for small-scale taxpayers, and implement new structural tax reduction measures. We will give priority to strengthening tax incentives for small and micro businesses. While continuing to implement the preferential tax reduction policies for small and micro businesses, we will further increase tax reductions and exemptions for small and micro businesses and individual businesses. We will vigorously support manufacturing and scientific and technological innovation, and enhance the vitality and sustainability of enterprises. It is estimated that more than 700 billion yuan will be added to the burden for market players this year.
  3. Establishing a regular direct mechanism to improve the efficiency of government funds We improved the management system for direct funds, expanded the scope of direct funds, and included all 27 transfer payments in direct funds, totaling 2.8 trillion yuan, an increase of 1.1 trillion yuan over the previous year. We will improve the monitoring system of direct funds, pay close attention to the distribution, allocation and use of direct funds, and further improve the performance of financial funds. By the end of June, 92.5% of direct funds had been issued, and all eligible funds had been issued. At the same time, we will accelerate the establishment of a performance-based budget management system that covers all aspects of the budget management process, promote the substantive incorporation of performance-based management into the budget management process, strengthen the application of performance-based results, and make good use of limited government funds.
  4. Increase transfer payments to ensure that the three guarantees, namely, the three guarantees, are fully met. Despite limited actual new financial resources, the central government will allocate 8.337 trillion yuan in transfer payments to local governments this year, including 7.5018 trillion yuan in general transfer payments, an increase of 7.8% and a significantly higher increase than last year. We will make greater efforts to reduce financial resources. Transfer payments from the central government will be directed to the central and western regions and areas facing difficulties, to support the normal operation of local governments, especially those in difficulties, and to provide public services and develop programs to improve people’s wellbeing. We will strengthen local governments’ capacity to ensure that social security, agriculture, and environmental protection, and ensure that people’s livelihoods are protected.
  5. Vigorously supporting scientific and technological innovation and accelerating the development of a modern industrial system We will strive to improve the quality and efficiency of economic development and support efforts to accelerate the development of an integrated domestic demand system. We will vigorously promote scientific and technological innovation, increase spending on basic research, make breakthroughs in key and core technologies, support efforts to improve our capacity for independent innovation, accelerate the development of a modern industrial system, and modernize industrial chains and supply chains. We will support the development of foreign investment and trade.
  6. We will do our best to ensure and improve people’s wellbeing. We will appropriately formulate policies for improving people’s wellbeing in light of the fiscal situation and actual needs, and promote management of spending lists for improving people’s wellbeing. We will establish sound incentive and restraint mechanisms and make the management of spending on people’s wellbeing more scientific. We will improve the redistribution mechanism to ensure that low-income groups meet their basic needs. We will do everything possible to increase transfer payments from the central government to local governments, give preference to areas with financial difficulties and less developed areas, and enhance our ability to ensure basic living standards.
  7. We ensured that the government tightened its belts and further improved the structure of government spending. We will strictly tighten budgetary spending, strictly review new government expenditures, vigorously cut or eliminate inefficient and ineffective expenditures, and fully tap the potential for reducing spending. The central government took the lead in tightening our belts by further significantly reducing non-urgently needed and non-rigid expenditures and general expenditures, so as to free up more precious financial resources for improving basic living standards and supporting the development of market entities.

The next step, the Treasury will resolutely implement the central committee and the State Council decision deployment, always adhere to seek improvement in stability work tone, 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, to meet people’s increasing need for the fundamental purpose of a better life, accurate implementation of macro policy, promote active fiscal policy effectiveness, To speed up the second half of the budgetary expenditures and the local government bond issuance schedule, who support the real economy and promote employment, further stimulate the market main body dynamic vitality, at the same time perfect cross cycle regulation mechanism, maintain macroeconomic policy continuity, stability and sustainability, as a whole do a good job in this year and fiscal policy cohesion, managing the possibility of cyclical risks, consolidate the positive trend in the economic stability, We worked hard to accomplish the year’s main targets and tasks for economic and social development.

  1. The overall implementation of the budget was sound, and the ability to coordinate and guarantee the budget continued to increase

In the first half of this year, the national economy remained stable, strengthened and improved. On this basis, government revenue showed a recovery in growth, spending in key areas such as people’s wellbeing was effectively guaranteed, and budget execution was generally sound.

  1. Fiscal revenue recovered and the quality of revenue improved.

In the first half of this year, revenue in China’s general public budget reached 11.7116 trillion yuan, up 21.8 percent year on year and 8.6 percent over the same period in 2019. Revenue in the central government’s general public budget reached 5.462.4 trillion yuan, up 23.2 percent year on year and 5.9 percent over the same period in 2019. Revenue in local governments’ general public budgets reached 6.2492 trillion yuan, up 20.6 percent year-on-year and 11.1 percent over the same period in 2019. Fiscal revenue rebounded across the country, with revenue in the eastern, central, western and northeastern regions increasing by 12.5 percent, 9.1 percent, 10.2 percent and 4.1 percent, respectively, compared with the same period in 2019.

Economic recovery has boosted the rapid growth of tax revenue, and tax revenue of major tax categories and most industries has basically recovered or significantly exceeded pre-epidemic levels. National tax revenue reached 10,046.1 trillion yuan, up 22.5 percent year on year and 8.7 percent compared with the same period in 2019. Domestic VALUE-ADDED tax, domestic consumption tax, corporate income tax and import tax increased by 22.5%, 12.8%, 17.7% and 27.6%, respectively, up 5% (after deducting VAT rate reduction and other non-comparable factors), 2.6%, 9.2% and 7.1%, respectively, compared with the same period in 2019. We took solid steps to implement policies on fee reduction, stepped up efforts to crack down on fees and charges illegally charged by enterprises, and effectively implemented these policies.

  1. Maintaining an appropriate intensity of spending and ensuring adequate spending in key areas

In the first half of this year, national expenditure in the general public budget was 12.1676 trillion yuan, up 4.5% from the same period last year, indicating a relatively strong level of expenditure. Of this, central government departments implemented the requirement to take the lead in tightening their belts and significantly cut non-urgently needed and non-rigid expenditures. Expenditures in the central general public budget decreased by 6.9% year on year, or 2.4% after deducting the delay in allocating some expenditures compared with last year. Expenditure in local governments’ general public budgets increased by 6.4% year on year.

Government spending was kept below average while key areas of the government were protected. Spending on key areas of government spending, such as the provision of social security services, and the provision of social security services, grew rapidly, and spending on basic living standards was well guaranteed. Expenditures on education, housing, social security, employment and health care increased by 10.1%, 15.1%, 8.2% and 3.8% respectively. As of July 15, 470.5 billion yuan had been budgeted for investment from the central government budget, 77.1% of the budgeted figure. Relevant departments have strengthened communication and coordination to promote the development of projects as soon as possible.

  1. Fully implementing the government’s requirements for tightening budgetary belts and making better use of financial resources

We will continue to tighten our belts as a basic policy in budgeting, continue to set spending on the basis of revenue, live within means, and strictly tighten budgetary spending. We will significantly reduce expenditures that are not urgently needed but are not rigid; greatly reduce official activities such as meetings, training, forums, and celebrations; and strictly approve budgets for official overseas visits, official vehicles, and official hospitality, so as to free up more precious financial resources for key areas such as improving people’s basic living standards. We will tighten constraints on the implementation of budgets, strictly implement budgets approved by the NPC, and strictly prohibit non-budgeted or over-budgeted appropriations. Urged guidance to strengthen local, urging local enforcement of frugality, strict budgeting, strictly enforce the standards, expenditure can open not open will resolute don’t open, can complete the training resolute don’t do, not to can delay the implementation of projects in a timely manner to adjust purposes, use of funds to strengthen can be integrated as a whole to bind, effectively improve financial fund allocation efficiency.

  1. Fully implement the task of ensuring economic, social and environmental protection and earnestly safeguard overall economic development and social stability

Strengthen macro situation pre-research, around a solid foundation to do a good job of “six stability”, the full implementation of “six protect” task, system planning fiscal and taxation policies and measures, stick to the bottom line of thinking, well across the cycle and forward-looking macro-control, strengthen to expand the epidemic prevention and control and the achievements of economic and social development, vigorously promote economic recovery and social stability and people’s livelihood for continuous improvement.

  1. We strengthened the policy of giving priority to employment and made the job market develop in a healthier and more stable manner.

First, more solid funding for employment. In 2021, the central government will allocate 56.76 billion yuan for employment subsidies, an increase of 2.03 billion yuan over last year, to support the implementation of policies supporting employment and entrepreneurship. We will take vocational skills training as a key measure to ease structural employment problems, and guide local governments in accelerating the use of funds for vocational skills upgrading.

Second, we continued to strengthen policies to help enterprises stabilize their jobs. In the first half of this year, a total of 9.52 billion yuan was provided to 375,000 enterprises, benefiting 9.429 million employees. We will continue to implement the policy of expanding employment through employment-for-employment training, and support micro, small and medium-sized enterprises in finding jobs for key groups.

3) Steady progress was made in upgrading vocational skills. We will cooperate with relevant departments in formulating and improving policies and measures related to vocational skills training, adjust subsidies for vocational skills training, appropriately expand the coverage of subsidies for vocational skills upgrading, and relax the requirements for applying for subsidies. We will introduce a new type of apprenticeship system for enterprises with Chinese characteristics, and provide vocational training subsidies to enterprises that conduct apprenticeship training in accordance with relevant regulations. During the training period, living expenses (including transportation expenses) will be subsidized to those who have taken part in vocational training, such as those who are out of poverty, those who have difficulty finding jobs, and members of zero-employment families.

Fourth, the employment support system for key groups continued to improve. We will ensure employment for key groups such as college graduates, rural migrant workers, and retired military personnel. We will coordinate policies and measures such as tax reductions and exemptions, guaranteed loans and discounted interest rates for business start-ups, and social insurance subsidies to support key groups in finding jobs or starting businesses on their own, and encourage unemployed people to return to work and find employment.

Thanks to these policies, China’s employment situation was generally stable in the first half of the year. The surveyed urban unemployment rate was 5.2% on average, down 0.6 percentage points from the same period last year. 6.98 million new urban jobs were created, 63.5% of the year’s target.

  1. Giving priority to ensuring that people are in basic need of living standards, we steadily improved basic living standards.

First, pension benefits were further improved. Basic pensions for retirees will be raised by 4.5 percent. In the first half of this year, the central government allocated more than 780 billion yuan to subsidize the basic old-age insurance for enterprise employees, urban and rural residents, and the reform of the basic old-age insurance for government offices and public institutions in 2021. The central government will increase the proportion of basic old-age insurance funds for enterprise employees to 4.5%, totaling over 930 billion yuan, benefiting the central and western regions and provinces with old industrial bases by 215.2 billion yuan. We will consolidate the long-term mechanism for poverty alleviation through basic old-age insurance for rural and non-working urban residents, and guide local governments in improving and implementing policies for paying premiums of basic old-age insurance for rural and non-working urban residents in need.

Second, the level of medical security has steadily improved. We will continue to raise per capita government subsidies for medical insurance for rural and non-working urban residents to no less than 580 yuan per person per year. In the first half of this year, the central government allocated 367.689 billion yuan for medical insurance subsidies for urban and rural residents in 2021. A total of 30.69 billion yuan in medical assistance subsidies was allocated to better leverage the role of medical assistance in providing basic medical support. We will support local governments in informationization of medical insurance, reform of fund supervision and payment methods, and improve their capacity to provide medical insurance services. We will improve the mutual aid system for basic medical insurance clinics, establish a list of medical insurance benefits, and promote regular and institutionalized procurement of medicines in bulk.

Third, novel Coronavirus vaccines and vaccination costs have been effectively guaranteed. We will continue to do a good job in epidemic prevention and control, support free vaccination of coronavirus vaccines for residents, and subsidize 30% of the cost of Novel coronavirus vaccines and vaccination borne by medical insurance funds at all levels. For areas under the pooling of employee medical insurance or resident medical insurance whose rolling surplus can be paid for less than three months in the previous year, the proportion of financial subsidies can be increased after reporting to provincial finance and medical insurance departments for approval, so as not to affect the payment of policy benefits for insured personnel. The central government will subsidize the eastern, central and western regions at a rate of 30%, 40% and 50%, respectively. The central government will settle the subsidy every six months during this round of vaccination.

Fourth, basic public health services were significantly improved. In the first half of this year, the central government allocated 65.394 billion yuan in subsidies for basic public health services to support local governments in providing basic public health services such as health record management and health literacy promotion for all urban and rural residents. Per capita government subsidies for basic public health services increased by 5 yuan from last year to 79 yuan per person per year.

Fifth, the treatment of entitled groups was fully implemented. We will continue to raise subsidies and living allowances for entitled groups and other people by around 10%. In the first half of this year, the central government allocated 51.4 billion yuan in subsidies for entitled groups in 2021, guaranteeing nearly 8.24 million entitled groups, ensuring that their living standards keep pace with economic development, and improving their living conditions year by year. A total of 2.38 billion yuan was allocated for medical security for entitled groups throughout the year, ensuring the implementation of medical benefits for entitled groups, and supporting local governments in resolving special difficulties for entitled groups that are not covered by existing medical insurance reimbursement.

Sixth, we ensured the basic living standards of poor people. Maintain consolidate development of poverty crucial achievements effective connection with country revitalization of the transition period of overall stability, social assistance out policy guidance around in time will lose labor ability completely or partly out of poverty population in lose labor ability and can’t get a stable income population by industry employment, in accordance with the provisions, into villages, or strands personnel rescue support scope. In the first half of this year, the central government appropriated 147.621 billion yuan in assistance and subsidies for people in need to support local governments in coordinating subsistence allowances, assistance and support for people in extreme poverty, temporary assistance, assistance for vagaband and beggars, and basic living allowances for orphans. In the first half of this year, 7.73 million urban and 35.38 million rural recipients of subsistence allowances reached 694 yuan per month and 513 yuan per month, respectively.

7) We continued to improve policies to support renovation of dilapidated rural houses. The government will adjust the number of low-income rural groups from four key categories, including registered poor households, during the 13th Five-Year Plan period. In the first half of this year, the central government allocated 9.946 billion yuan in subsidies for renovating dilapidated houses in rural areas to support eligible subjects in renovating dilapidated houses and retrofitting rural houses in earthquake resistance.

Eighth, we will promote high-quality development of education. We will improve the guarantee mechanism for universal pre-school education and expand the supply of preschool education resources. In 2021, 177 billion yuan will be allocated to subsidize urban and rural compulsory education to support local governments in strengthening the mechanism for ensuring funding for urban and rural compulsory education, implementing the plan to create special posts for teachers in rural compulsory education schools and implementing the plan to improve the nutrition of rural students receiving compulsory education, exempting about 156 million urban and rural students receiving compulsory education from tuition and miscellaneous fees and receiving free textbooks. About 25 million students from poor families received living allowances, and the nutrition improvement plan benefited about 32 million rural students. We will continue to improve basic conditions for running schools in rural areas and expand the supply of academic degrees in urban areas in an orderly manner. We will deepen integration of industry and education in vocational schools and cooperation between schools and enterprises. We will promote the development of first-class education, double first-class education, and support the development of higher education in the central and western regions. We will improve the policy system for providing financial aid to students, and ensure that all students from all academic levels, public and private schools, and students from poor families are covered.

Ninth, we supported the development of cultural programs and industries. We will continue to integrate urban and rural public cultural service systems, and increase the coverage and effectiveness of cultural projects that benefit the people. We will improve the fund management mechanism, encourage the release of more masterpieces, and support the prosperity and development of socialist literature and art. We will strengthen the protection and utilization of cultural relics, protect and pass on China’s intangible cultural heritage, and promote fine traditional Chinese culture. We will support efforts to strengthen our capacity for international communication and promote Chinese culture to go global. We will strengthen supervision and management of state-owned assets of central cultural enterprises and promote the healthy and rapid development of cultural industries. We will support preparations for the Beijing Winter Olympics and Paralympics and the preparation of the National team, and speed up efforts to build China into a strong sports country.

  1. Continued bailouts for market entities and further consolidated the economic fundamentals.

First, we will extend the incentive and subsidy policy for small and micro businesses to 2023, and guide local governments to lower the annualized guarantee rate for small and micro businesses to 1.5% or lower. This will ensure that the overall financing cost of small and micro businesses will be steadily reduced and help solve the financing difficulties of small and micro businesses. The 3 billion yuan prize and subsidy fund for 2021 was handed out in June.

Second, discount interest rates on start-up guaranteed loans increased. In May 2021, the central government appropriated 6.336 billion yuan in subsidies and awards for guaranteed loans to start-ups, up 65.9 percent year on year, and four months earlier than the previous year. The subsidy funds were included in the direct fund category of the central government budget to help businesses and employment in a precise and rapid manner.

Third, government financing guarantees continued to expand coverage and cut fees. We will improve the mechanism for sharing loan risks, encourage the State financing guarantee fund to expand its reguarantee business, and speed up equity investment. In the first half of this year, 321.53 billion yuan and 249,300 new reguarantee cooperation businesses of the State Financing Guarantee fund were added, up 36.6% and 90.3% year on year respectively, and the cumulative scale of reguarantee cooperation business exceeded 1 trillion yuan. The average guarantee fee for partner institutions fell to 0.85%, down 0.16 percentage points from the same period last year. Actively promoting the “head to head” batch guarantee business cooperation between banks and banks, the bank has achieved business in 11 national banks and 23 provinces (autonomous regions and municipalities directly under the central government), with a total business scale of 9.852 billion yuan.

Fourth, government procurement to promote the development of small and medium-sized enterprises. We revised and published the Administrative Measures for Promoting the Development of small and Medium-sized Enterprises through Government Procurement, refined and improved measures such as reservation quotas and preferential price reviews, and increased the share of government procurement contracts granted to small and medium-sized enterprises.

  1. We increased policy support to ensure food and energy security.

First, the capacity to ensure grain supply was further improved. We will improve grain subsidy policies. We implemented subsidies for corn and soybean producers and supported the minimum purchase price policy for wheat and rice. A total of 120.485 billion yuan was allocated in subsidies to protect the fertility of cultivated land. We provided 20 billion yuan in one-time subsidies to grain farmers to encourage them to grow grain. The central government allocated 17.98 billion yuan to local grain risk funds to support local governments in storing grain reserves and maintaining stability in the grain market. We will expand the coverage and raise the standard of agricultural insurance. We will expand coverage of full-cost insurance and crop income insurance for rice, wheat and corn, and gradually provide insurance to cover the full cost of agricultural production or crop income for all rural households in 500 major grain-producing counties in 13 major grain-producing provinces. We will support the implementation of the strategy of storing grain on land and storing grain in technology. We will support the development of 100 million hectares of high-standard farmland, increase the area under conservation tillage of black land from 40 million hectares in 2020 to 70 million hectares, and encourage the development of modern irrigated areas with complete engineering facilities, advanced irrigation technologies, sound ecosystems, and efficient management. Flood control and drought relief projects will be implemented. We will support local governments in preventing and controlling major crop diseases and insect pests, preventing and controlling red fire ants, preventing and controlling floods, fighting drought and providing disaster relief, and controlling floods safely. In 2021, the total area sown to summer grain will be 26,438 hectares, an increase of 265.5 hectares or 1 percent over 2020, reversing five consecutive years of decline. The country’s total summer grain output was 145.82 million tons, an increase of 2.967 million tons or 2.1 percent over 2020.

Second, China’s energy security capacity continued to improve. We will adjust and improve policies for supporting new energy vehicles. We will continue to slow down the slope of subsidies for new energy vehicles by reducing the subsidy standard by 20% in 2021 from the 2020 level, and keep the technical indicator system and threshold of technical requirements generally stable.We improved subsidies for electricity generated from renewable energy, allocated 89 billion yuan in additional subsidies for electricity generated from renewable energy, and supported electricity generated from photovoltaic, wind and other renewable energy sources. We will speed up the release of the list of subsidies and confirm their rights, and ease financing difficulties for renewable energy power generation companies. Starting from 2021, new centralized photovoltaic power stations, industrial and commercial distributed photovoltaic projects and onshore wind power projects will be connected to the Internet at affordable prices, and will enter a new stage of large-scale application. Strengthen illegal supervision, and explicitly suspend or reduce subsidy funds for biomass power generation projects that do not meet emission standards, forcing enterprises to strengthen emission control, achieve emission standards, and ensure the safety and effectiveness of subsidy funds. Support unconventional gas extraction. A total of 6.01 billion yuan will be allocated to clean energy development funds in 2021, and local governments and enterprises will be encouraged to increase their gas production in accordance with the principle of “subsidize more energy and subsidize more energy in winter.” In the first half of this year, green and low-carbon energy continued to grow, with the installed capacity of wind power and solar power increasing by 34.7% and 23.7% respectively year-on-year. Sales of new energy vehicles reached 1.206 million units, up 139 percent year on year. Natural gas production rose 10.9 per cent, with shale gas production up 25 per cent.

  1. We improved and upgraded industrial and supply chains, and continued to improve the quality, performance and core competitiveness of the economy.

First, we will support efforts to improve our capacity for scientific and technological innovation. We will continue to make tackling key and core technologies the focus of investment in science and technology, make every effort to ensure the organization and implementation of major science and technology projects, and focus on solving a number of problems that have come to a head. We will support the implementation of national funds to encourage the application of scientific and technological advances, encourage nongovernmental and financial capital to invest in innovation, and accelerate the application of scientific and technological advances. We will support more qualified enterprises in undertaking national research tasks, and encourage them to become the main players in making decisions on technological innovation, investing in R&D, organizing research, and applying research results. We will significantly increase spending on basic research, with the focus on the National Natural Science Foundation of China, and steadily support research institutes, scientific and technological innovation bases, and research personnel in basic research fields. In the first half of this year, new drivers of China’s economic development grew rapidly. The sales revenue of China’s high-tech industry grew by 33.6 percent year-on-year and 20.4 percent on average over the past two years, 5.3 percentage points higher than the overall national level.

Second, we will accelerate the optimization and upgrading of industrial chains. We will focus on key manufacturing industrial chains, address bottlenecks and breakpoints, support collaborative innovation of industrial chains and the development of public service platforms, and modernize industrial chains and supply chains. We will improve policies on pilot insurance compensation for the first (set) of major technological equipment, make the guidance catalogue for the first (set) of major technological equipment more targeted, simplify funding application procedures, encourage local governments to introduce incentive measures for the application of the first (set) of major technological equipment, and support the spread and application of innovative products. We will give full play to the role of government investment funds in the manufacturing sector, guide nongovernmental capital to increase investment in integrated circuits, new materials, and next-generation information technology, and ensure the security of industrial and supply chains.

Third, we will support the innovative development of micro, small and medium-sized enterprises. We will arrange special awards and subsidies to support the high-quality development of more than 1,000 state-level specialized and innovative “little Giant” enterprises in batches, and speed up the cultivation of a group of small and medium-sized enterprises with strong innovation capacity and good growth performance that focus on market segments and main businesses. We will strengthen the development of demonstration platforms for small and medium-sized enterprises to provide public services. We increased fiscal support for the development of inclusive finance and implemented the policy of discount interest on guaranteed loans for business start-ups. We will launch a special program for transforming patents to meet the technological needs of small and medium-sized enterprises and boost their innovative development.

  1. We increased transfer payments from the central government to local governments, and ensured that the government, the government, and local governments that guarantee agriculture, tourism, and social security at the community level had their bottom line fully met.

First, the central government will further increase transfer payments to local governments. We will increase transfer payments to local governments by reducing their levels and adjusting their structure, even though actual new financial resources are limited. Transfer payments from the central government to local governments will reach 8.337 trillion yuan in 2021, a slight increase over 2020. General transfer payments increased by 7.8%, including transfer payments for common fiscal authority and other general transfer payments, which increased by 6.1% and 9.2%, respectively, significantly higher than last year. We will increase transfer payments for equalizing access to basic public services by allocating 1.908.7 trillion yuan, an increase of 11% over the same period last year. We allocated 337.9 billion yuan in awards and subsidies for the mechanism for ensuring basic funding for county-level governments, an increase of 13.4% over the same period last year, to support local governments in ensuring basic living standards, salaries, and operation, and making basic public services more equal.

Second, local governments have become more capable of ensuring the safety, security, and protection of rural residents. We will increase transfer payments for equalizing public access to basic social security and the awards and subsidies provided by the mechanism for ensuring basic funding for county-level governments, and further allocate financial resources to areas with financial difficulties. We will strongly support local governments in increasing their available financial resources and enhancing their ability to guarantee social security, agriculture, and rural residents. So far, 1.8527 trillion yuan has been allocated in transfer payments to ensure equalization, and all awards and subsidies for the mechanism for ensuring basic funding for county-level governments have been distributed. According to the monitoring results in the first half of this year, the actual available financial resources of all counties and districts can meet the demand for the national standard of “three guarantees”, and the guarantee situation is better than the same period of last year.

Third, we strengthened supervision and guidance over local work related to the three guarantees. Since January of this year, we have carried out monthly monitoring of local financial performance, with the focus on strengthening local monitoring of agriculture, agriculture, and social security, and promptly urged and guided local governments to check and resolve problems and risks found in the monitoring process. At the same time, it constantly improves the monitoring system to ensure accurate and timely collection and analysis of monitoring data, and is committed to preventing and resolving “three guarantees” risks.

Third, we improved and implemented policies to cut taxes and fees, effectively invigorating market entities

According to the spirit of the central economic work conference and the government work report deployment requirements, optimization, and to carry out the policy of tax cuts JiangFei, considering sustainable and implement fiscal help companies need bail-out, implement the fine policies, resolutely put tax cuts in place, the reduction in the cost of the reduction in place, and the real economy enterprises to reduce costs, optimize the environment of enterprise development, stimulate the market main body energy. In 2021, more than 700 billion yuan will be cut in taxes and fees.

  1. We continued to implement institutional tax and fee cuts.

We will continue to implement institutional tax reduction policies such as lowering VAT rates, withholding VAT tax refunds, and special additional deductions for individual income tax, and implement institutional fee cuts such as lowering the premiums for basic old-age insurance for employees, so as to continue to release the overlapping effects of these policies.

  1. We adjusted policies for phasing in tax and fee cuts by category.

Phased tax and fee cuts will be introduced in 2020 to address the epidemic, and will be phased out in an orderly manner. We will extend the period for implementing policies such as reducing value-added tax for small-scale taxpayers introduced during the epidemic to maintain necessary support for economic recovery. Temporary and emergency policies concerning epidemic prevention, control and supply shall be suspended upon expiration. We will resume the collection of social insurance premiums in 2021, and extend the policy of lowering unemployment and work-related injury insurance premiums until April 30, 2022, taking into account the demands of enterprises, the guarantee of social security benefits and the support capacity of the fund. In 2021, the upper and lower limits of the social security contribution base will be restored to normal in principle, and provinces with real difficulties can make a two-year transition.

(3) Tax incentives for small and micro businesses were strengthened.

In addition to implementing the inclusive policy of reducing taxes and fees for small and micro businesses, we will further increase tax reductions and exemptions for small and micro businesses and individual businesses. Starting from January 1 this year, income tax will be halved for those whose annual taxable income is less than 1 million yuan, on top of the current preferential policy. From April 1, the VAT threshold for small-scale taxpayers will be raised from 100,000 yuan to 150,000 yuan on monthly sales.

  1. We increased support for manufacturing and scientific and technological innovation.

We will continue to implement the policy of 75% additional tax deductions for r&d expenditures of enterprises, increase the proportion of additional tax deductions for R&D expenditures of manufacturing enterprises to 100%, allow enterprises to enjoy additional tax deductions every six months, and further encourage enterprises to increase r&d spending with preferential tax policies. Starting from April 1 this year, transportation equipment, electrical machinery and equipment, instruments and meters, medicine, chemical fiber and other manufacturing enterprises will be included in the advanced manufacturing enterprises VAT tax rebate policy, implementing the full monthly refund of VAT increment tax rebate.

  1. Resolutely prevent arbitrary collection of fees, fines and apportionment.

We will continue to review and standardize fee funds, cancel port construction fees, and lower the standards for collecting civil aviation development funds from airlines. Comprehensive screening regions since 2020, various types of port is associated with the epidemic prevention and control of governmental fund and administrative fees project, increase the intensity of all kinds of enterprises violation charge regulation, investigate any fees, improve tax standards, expand the scope, levies, unreasonable strict controls of non-tax revenue growth, prevent weakening tax JiangFei dividend policy.

In the first half of this year, thanks to the concerted efforts of all sectors, tax and fee cuts were effectively implemented, giving a better boost to the development of corporate bailouts. The vitality of market players increased effectively, and the number of new tax-related market players reached 6.242 million, up 27.3 percent from 2020 and 22.8 percent from 2019. Corporate performance generally improved, and profits rose significantly. The sales revenue of Chinese enterprises increased by 34.4% year on year, an average increase of 15.1% over 2019. The total profits of industrial enterprises above designated size increased by 66.9 percent year on year. Market participants’ confidence in future economic growth continues to improve. The Manufacturing purchasing managers’ index (PMI) stood at 50.9% in June, which has been in the economic zone for 16 consecutive months.

  1. The direct mechanism of government funds has been normalized, making government funds more precise and efficient in benefiting enterprises and the people

We should conscientiously sum up the effective experience of the direct mechanism in 2020, implement the direct mechanism of fiscal funds on a regular basis, expand the scope of direct funds, optimize the allocation process, and strictly supervise funds. In the first half of this year, the regular direct access mechanism was carried out in an orderly manner, and its implementation was sound. Funds were quickly distributed to communities and units, spending in key areas was effectively guaranteed, and the policies benefiting enterprises and the people were implemented with precision.

(1) Direct funds exceeded 2.8 trillion yuan and were generally well implemented.

First, expand the scope of funding. We changed the scope of funding from new funds to existing funds, including all 27 transfer payments directly covered by the central government, totaling 2.8 trillion yuan, an increase of 1.1 trillion yuan over the previous year, and basically ensuring full coverage of central government subsidies for people’s wellbeing.

Second, we will improve the institutional system. A series of documents, including the Notice of the Ministry of Finance on The Work of the Direct Mechanism for Fiscal Funds in 2021, were issued to establish an institutional system covering the whole process of fund allocation, allocation, use and supervision. We will continue to implement measures such as archived review and real-name system for beneficiaries, effectively align capital supply and demand, and “precision drip irrigation” to make capital management more scientific and standardized.

Third, optimize the distribution process. In consideration of local conditions, the allocation of funds was adjusted from all allocation to cities and counties to take into account the needs of provincial pooling, and the capacity of provincial pooling of funds was appropriately enhanced. Local governments can reasonably decide on budget allocation plans in accordance with the current fiscal system, the subjects of project implementation, and the beneficiaries of funds, and in accordance with fund management methods, so as to give more incremental funds to cities and counties at the grassroots level. We increased the operating time of local governments from one week last year to less than 30 days as stipulated in the Budget Law by giving them advance notification of government quotas and quotas, so as to leave time for local governments to formulate detailed plans, prepare projects, and go through the procedures of submitting for approval.

By the end of June, 2.59 trillion yuan of direct funds from the central government had been allocated, accounting for 92.5 percent of the total. All eligible funds had been allocated, and the funds that were not allocated were based on actual settlement, earlier than last year. Local governments have allocated 2.506 trillion yuan to entities that use funds, accounting for 96.8 percent of the funds allocated by the central government. Spending in each region reached 1.635 trillion yuan, a progress rate of 63.1%. Provincial-level spending reached 0.614 trillion yuan, accounting for 37.5% of the total. Spending at the grassroots level at city and county levels reached 1.021 trillion yuan, accounting for 62.5 percent of the total, reflecting the institutional arrangements under the regular direct mechanism to allocate and use funds based on actual facts and give more increase to the community level.

  1. We will tighten oversight over and use of government funds in a more standardized and efficient manner.

One is upgraded to fund monitoring system, by the data tracking extended to the whole management, comprehensive coverage index flow, cash flow and information flow, realize from the source to the end of the chain track monitoring, fund use issued and regulatory synchronization “paint”, ensure that clear sources of funding, flow, can check accounts, accounts of real consistent, We will further improve the standardization and effectiveness of direct fund allocation and use.

Second, we will strengthen coordinated oversight. In accordance with the expansion of direct funds, we will increase the number of members of the inter-ministerial special working mechanism, and improve the multi-department coordinated working mechanism. We will strengthen data and information sharing, fully open monitoring system data to audit, human resources, social security, civil affairs and other departments, strengthen coordination and cooperation among departments in fund supervision, timely identify problems in the implementation process, and ensure that funds are used where they are most important. We will tighten the responsibilities of local governments at all levels, strengthen oversight over the use of funds, improve the efficiency with which funds are used, and prevent them from being diverted or left idle.

Third, we will intensify investigation and punishment of violations. Local regulatory bureaus of the Ministry of Finance will give full play to their strengths in on-site supervision and conduct on-site inspections on major suspicious issues. We will establish a sound system of reporting and interviewing major problems, and hold those who violate laws and regulations accountable. Illegal activities such as false claims, interception and embezzlement will be found, investigated and prosecuted, and held accountable.

(3) Direct funding has produced significant benefits for local governments and market entities.

Local governments resolutely implemented the guiding principles of the Executive meeting of The State Council and the policy requirements for the management of direct funds from the central government, focused on optimizing the spending structure, highlighted the key uses of direct funds, promoted the flow of funds to the direction and fields that the people and enterprises want, and effectively offset the effects of some phased policy “downsides”. This has provided timely and strong financial support for local governments to implement the tasks of ensuring employment, market entities, basic living standards, and community-level wages and operation. It has also laid a solid foundation for achieving this year’s major economic and social development goals. According to incomplete statistics, more than 70 percent of the total direct funds spent in the first half of this year went to local pension, compulsory education, basic medical care, basic housing and other basic livelihood areas. Over 270 billion yuan has been spent to support and protect market players, benefiting nearly 580,000 market players of all types.

  1. We improved the government debt financing mechanism and strengthened management of government debt

We will continue to improve the mechanism for managing government debt, keep the “front door” open and the “back door” blocked, guard against and defuse local government debt risks, and give full play to the role of regulated government borrowing in promoting the smooth operation of the macro economy.

  1. The task of issuing Treasury bonds was successfully completed.

In accordance with the decisions and plans of the CPC Central Committee and The State Council, no special government bonds will be issued in 2021. The Ministry of Finance made overall plans for the issuance of government bonds, reasonably controlled the issuance scale and pace of national bonds (referring to domestic bonds, the same below), successfully completed the issuance of national bonds in the first half of 2021, and the market was generally stable. In the first half of this year, 2.816.9 trillion yuan of Treasury bonds were actually issued, up 10.8% year on year, including 2.688.2 trillion yuan of book-keeping Treasury bonds and 128.7 billion yuan of savings Treasury bonds, providing a solid guarantee for meeting the central government’s funding needs.

  1. The size of local government special bonds was appropriately reduced.

Given the large size of special bonds issued in 2020, the effect of the policy will continue to be unleashed in 2021. This year, we will set a ceiling of 3.65 trillion yuan for new special local government debt, 100 billion yuan less than last year. We will give full consideration to the needs of cross-cycle policy design and adjustment, make scientific arrangements for the issuance of new special bond quotas and the pace of issuance in light of project preparations, and maintain strong support for key projects. In the first half of this year, a total of 1,014.3 trillion yuan of special bonds were issued. According to preliminary statistics, about half of the new special bonds will be invested in major projects in transportation infrastructure, municipal administration and industrial parks. About 30 percent will be invested in government-subsidized housing and major social programs such as health care, education, elderly care, culture and tourism. About 20 percent will be invested in major projects in agriculture, forestry, water conservancy, energy, and urban and rural cold chain logistics, which will better meet the reasonable financing needs of local governments, accelerate efforts to strengthen weak links in health care and other areas of people’s well-being, and better serve the national strategy.

  1. The government debt financing mechanism continued to improve.

First, we will constantly improve the mechanism for issuing Treasury bonds. We will coordinate the issuance of Treasury bonds with the management of central government budget revenues and expenditures and Treasury funds in a scientific way, and keep a reasonable pace of the issuance of Treasury bonds. We will optimize the bidding and issuance rules for book-keeping Treasury bonds and improve the mechanism for the continued issuance of book-keeping Treasury bonds. We will actively yet prudently carry out trials of selling savings bonds through mobile banking (electronically), and expand the channels for selling savings bonds.

Second, we will set a reasonable ceiling for new debt. We will ask the NPC to approve an additional ceiling of 4.47 trillion yuan on local government debt in 2021, 260 billion yuan less than the previous year. This will leave policy space for addressing new risks and challenges in the future while maintaining proactive fiscal policy support and keeping the macro leverage ratio basically stable.

Third, we will improve the mechanisms for managing local government debt programs and funds. In accordance with the principle of “capital follows the project”, do a good job in project reserve and preliminary preparation. We will use information technology to carry out penetrating supervision over special bond projects and strengthen regular risk monitoring over the whole project cycle. Special bonds issued by the measures for the performance management of project funds, the bond fund budget implementation on schedule and performance targets for “double control”, the serious deviation performance goals of project delay or stop the funding, construction of the short term because of inadequate preparation is difficult to implement the project, allowing the government at the provincial level in a timely manner according to the program adjustment purposes, to ensure the legal bond no risk. We will standardize the management of local government bond information disclosure platforms and further promote the disclosure of local government debt information.

Fourth, we will do a better job of issuing local government bonds. We will continue to actively issue bonds on behalf of local governments to ensure efficient and smooth financing of local debt issuance during the epidemic. We issued interim Measures for the administration of credit rating of local government bonds, put forward supervision requirements for credit rating agencies of local government bonds, and promoted the sound development of credit rating of local government bonds. We fully promoted over-the-counter issuance of local government bonds, encouraged local governments to increase the frequency and scale of issuance appropriately, and guided Hebei, Sichuan and other seven provinces to issue 4.36 billion yuan of local government bonds through commercial bank counters.

Fifth, we will work to defuse hidden debt risks of local governments. We will comprehensively strengthen the evaluation of projects’ financial affordability and review of their budgets, and put all expenditures under budgetary control in accordance with the law. We will improve the mechanism for local governments and their departments to allocate funds to enterprises and public institutions in accordance with the law, and prohibit local governments from increasing hidden debts in the form of corporate bonds. We will establish a market-based and law-based mechanism for handling debt defaults, prudently defuse the stock of hidden debt, strengthen information sharing and coordinated oversight between government departments, and identify, investigate, and hold accountable hidden debt problems discovered in auditing, accounting, and oversight of various industries. We will resolutely put a stop to illegal and illegal borrowing. We will steadily advance the work of replenishing the capital of small and medium-sized banks with special bonds.

  1. We will continue to give priority to the development of agriculture and rural areas and take new steps in comprehensively promoting rural revitalization

After the victory in poverty alleviation, we will comprehensively promote rural revitalization, which is a historic shift in the focus of our work related to agriculture, rural areas and farmers. Financial sector resolutely implement the jinping important indicator spirit and General Secretary of the CPC Central Committee and the State Council decision deployment, timely adjusting and optimizing working mechanisms and measures, effectively consolidate expand poverty engines results each work, support to fully implement the strategy of rejuvenating the country, strive to make hundreds of millions of peasants to live a better life.

  1. Achievements in poverty alleviation were consolidated and expanded.

First, we retained, adjusted and improved the original central government special funds for poverty alleviation. The former special poverty alleviation funds from the central government will be adjusted and optimized into subsidies from the central government for linking up rural vitalization, and it will be made clear that linking funds will be used to support key counties in national rural vitalization during the transition period. In 2021, 156.1 billion yuan of transfer funds will be allocated, an increase of 10 billion yuan over 2020. 70% of the total funds will be invested in western provinces, and a number of counties in the western region that have been lifted out of poverty will be given key support for rural revitalization.

Second, relevant transfer payments will continue to be given preferential support. Transfer payments to 832 poverty-stricken counties during the poverty alleviation period will continue to be implemented during the transition period. During the poverty alleviation period, transfer payments favoring support for the three regions and three prefectures and other poverty-stricken areas will be gradually adjusted and optimized to favor support for key counties in national rural revitalization during the transition period.

Third, we will continue to implement the policy of coordinating and integrating rural funds in poverty-stricken counties. Printed in conjunction with the departments concerned “about integrated as a whole to continue to support out of poverty county fiscal agricultural funds work notice, continue to optimize poverty GongJianQi main system arrangement, the integrated capital range total unchanged, and mainly use the integrated financial arrangements, incline to poverty counties to support and strengthen the supervision of project funding has made the adjustment, We will effectively support poverty-stricken counties in consolidating and expanding their achievements in poverty alleviation in light of local conditions, and promote rural revitalization in tandem.

  1. Steady progress was made in the rural revitalization strategy.

First, the quality and efficiency of agricultural development improved. We will support the protection of livestock and poultry germplasm resources and the establishment of seed industry parks, and explore and promote the development of large-scale seed industry enterprises that integrate breeding, reproduction and promotion. We supported the development of 50 national modern agricultural industrial parks, 50 industrial clusters with distinctive agricultural features, and 298 towns with strong agricultural industries, and promoted the revitalization of rural industries. We will comprehensively promote the construction of refrigeration and preservation facilities in producing areas of agricultural products. We will improve the national agricultural credit guarantee policy system to better solve the financing difficulties and high financing costs of new agricultural business entities.

Second, we supported steady progress in sustainable agricultural and rural development. We studied and implemented a new round of fishery subsidy policies during the 14th Five-Year Plan period to accelerate high-quality development of the fishery industry. A total of 16.805 billion yuan was allocated to continue the third round of subsidies and awards for grassland ecology. We will launch trials for green farming and recycling, and deepen trials to connect water systems and develop beautiful villages. We will carry out a five-year campaign to improve the living environment in rural areas, and implement the policy of government awards and subsidies for the rural toilet revolution. We will increase subsidies for the maintenance and maintenance of rural water supply projects and improve rural water supply security.

3) Comprehensive rural reform continued to deepen. We will support the construction of “five red and four have” beautiful red villages, and create practical textbooks for party history education that cultivate the original mission. We will continue to support and strengthen village-level collective economies, improve policies on government awards and subsidies for rural public welfare programs, and continue to modernize the system and capacity for rural governance. We will carry out pilot trials for comprehensive rural reform and pilot projects to develop rural complex development, and support local governments in exploring models of comprehensive rural revitalization in light of local conditions.

Fourth, policies on government procurement of agricultural and sideline products in poverty-stricken areas were constantly improved. We will continue to promote government procurement of agricultural and sideline products from poverty-stricken areas, give full play to the advantages of budgetary units in purchasing agricultural and sideline products in a sustained and stable manner, cultivate a number of rural industries with distinctive features and competitive brands that can drive long-term and stable income increase, promote the revitalization of rural industries, and promote the development of poverty-stricken areas in a wider range of areas and at a higher level.

  1. We increased investment in ecological and environmental protection, and achieved remarkable results in the battle against pollution

We fully implemented Xi Jinping Thought on ecological progress, firmly shouldered political responsibility for supporting the battle against pollution and promoting ecological progress, and further improved environmental quality by developing new mechanisms, increasing input, and focusing on key areas. In 2021, the central government will allocate 437.4 billion yuan to support pollution prevention and control and ecological progress.

  1. Strong protection for the blue sky, clear water and pure land.

First, we will continue to work to protect our blue skies. A total of 27.5 billion yuan was allocated to prevent and control air pollution to support efforts to reduce pollution and carbon emissions. We will further expand the scope of clean winter heating support in northern China, support an additional 20 cities including Lanzhou and Jiamusi through competitive evaluations, and continue to promote green transformation in energy consumption. We will continue to improve coal-fired boilers and industrial furnaces in key areas, and support coordinated control of PM2.5+ ozone pollution. From January to June, the average PM2.5 concentration in 339 cities at and above the prefectural level was 34 micrograms per cubic meter, down 2.9 percent year-on-year, showing continuous improvement in air quality.

The second is to continuously strengthen the green water protection war. A total of 21.7 billion yuan was allocated for the prevention and control of water pollution, to promote the treatment of water pollution in river basins, the protection and restoration of water ecosystems, centralized drinking water sources, and the protection of groundwater ecosystems, and to allocate more funds to key river basins such as the Yangtze and Yellow Rivers. A total of 3.6 billion yuan will be allocated for environmental improvement in rural areas, with the focus on the treatment of domestic sewage in rural areas, to support the treatment of black and odorous water bodies in rural areas, and to accelerate efforts to address major weaknesses affecting the rural living environment. From January to June, the proportion of sections with good water quality (class ⅰ – ⅲ) increased by 1.1 percentage points year-on-year, while the proportion of sections with bad water quality (class ⅴ) decreased by 0.7 percentage points year-on-year.

Third, we will actively support efforts to defend the pure land. We will allocate 4.4 billion yuan to prevent and control soil pollution, strengthen prevention of sources and risk management of soil pollution, focus on key regions, key industries and key pollutants, promote the safe use of agricultural land, and ensure food security. We revised the Measures for the Management of Soil Pollution Prevention and Control Funds, actively guided the establishment of provincial-level soil pollution prevention and control funds, and promoted the establishment of a diversified investment mechanism.

  1. Continued progress was made in major ecological conservation and restoration projects.

1) We made solid progress in improving the system of mountains, rivers, forests, farmland, lakes, grass and sand. The central government allocated 9.9 billion yuan in 2021, continue to conduct wu Liang Suhai in Inner Mongolia, hubei Yangtze river three gorges ShanShuiLinTian HuCao pilot protection and restoration of ecological project, launched in fujian, jiulong river estuary basin upstream headwater of the Yellow River in gannan “difference” period, such as the first batch of 10 ShanShuiLinTian HuCao integrated protection and restoration of sand, We will make coordinated efforts to improve the quality and stability of ecosystems by comprehensively controlling mountains, rivers, forests, farmland, lakes, grasslands, and sand at their source.

2) Marine ecological protection and restoration was carried out. In 2021, 4 billion yuan will be allocated for Marine ecological protection and restoration to support local governments in promoting the “Blue Bay” remediation campaign, mangrove protection and restoration, coastal zone protection and restoration projects, and the control of pollutants flowing into the sea, so as to enhance the ecological functions of urban bays and islands, improve the quality of Marine ecological environment, and enhance the capacity of Marine ecological carbon sinks.

3) Continued progress was made in forestry and grassland ecological protection and restoration. In 2021, we will allocate 103.9 billion yuan in transfer payments to forestry and grassland, implement the policy of protecting all natural forests, support efforts to return farmland to forest and grassland and restore and improve grassland ecosystems, strengthen wetland protection and restoration, establish a system of protected natural areas with national parks as the main body, and promote biodiversity conservation. We supported large-scale efforts to make land greener. We will improve the policy on ecological forest rangers, implement compensation for forest ecological benefits, strengthen the protection of wild animals and plants, and strengthen the prevention and control of forest grasslands and forest pests.

4) Orderly progress was made in environmental restoration and improvement of abandoned mines left over from history. Arrange capital of 2 billion yuan in 2021 to support countries such as the Yellow River basin, qinghai-tibet plateau strategy covers the key areas to carry out the historical legacy of abandoned mine environmental governance, and implementation of damaged mountain and surface vegetation restoration, the abandoned land reclamation, improve the regional ecological condition and living environment, promote ecological system quality and the service function.

  1. Our ability to respond to natural disasters and other emergencies has steadily improved.

First, the construction of aviation firefighting forces has been vigorously promoted. In support of fire prevention and control work on forest grasslands, the Government formulated and printed the Interim Provisions on The Management of Funds subsidized by the Central Government to Local Forest Grasslands for Aviation Fire Leasing, strengthened the responsibility of local governments, and standardized the procedures for aircraft leasing. Cooperate with relevant departments to actively study the construction plan of forest fire aviation force during the “14th Five-Year Plan”.

Second, natural disaster relief work was effectively implemented. We promptly launched a mechanism for rapid allocation of funds for natural disaster relief by the central government to support rescue and relief efforts and the resettlement of affected people. Since the beginning of this year, 4.934 billion yuan has been allocated for flood relief in Henan and 10 million yuan in Yunnan and Qinghai provinces.

Third, the level of central emergency and disaster relief materials reserve management has gradually improved. In conjunction with relevant departments, we will study and draft measures for the management of the reserve of central emergency and disaster relief materials, and clarify management systems and regulations on the management of financial funds such as the procurement, storage, transfer, supplement and verification of reserve materials. We will urge the warehousing of additional supplies by 2020 to meet the needs of disaster relief work.

Fourth, the general survey of natural disaster risks was carried out in an orderly manner. A total of 1.48 billion yuan was allocated to support the launch of the first national comprehensive survey of natural disaster risks, which was mainly used to cover relevant expenditures at the central level and expenditures for inter-provincial (autonomous region and municipality) surveys undertaken by central departments, and to provide appropriate subsidies to local governments through transfer payments.

Fifth, the ability to prevent and control extra-large geological disasters has been steadily improved. A total of five billion yuan was allocated to support local governments in strengthening comprehensive management of geological disasters and building comprehensive prevention and control systems and capabilities for the investigation, evaluation, monitoring and early warning of geological disasters in key regions.

  1. Coordinated efforts were made to reform the fiscal and taxation systems and improve fiscal management and oversight, and the level of fiscal governance steadily improved

We made full use of the breakthrough and leading role of reform, continued to deepen reform of the fiscal and taxation systems on the basis of the established framework for a modern fiscal system, strengthened fiscal management and oversight, further tightened financial discipline, and steadily improved fiscal governance.

  1. We deepened reform of the fiscal and taxation systems and accelerated the establishment of a modern fiscal system.

First, the budget management system will be improved. We submitted the Document to The State Council to print and distribute the Opinions on Further Deepening reform of the Budget Management System, explicitly strengthening the overall planning of financial resources, standardizing the management of budgetary revenues and expenditures, strengthening budgetary control and constraint, and preventing risks. We made budgets more transparent and made them more transparent. We improved systems and systems for performance management, accelerated the establishment of an all-dimensional, whole-process, and all-covering budget performance management system, and promoted the deep integration of performance management and budget management, thus further improving the efficiency in the allocation and use of fiscal resources.

2) Reform of the tax system continued to deepen. We will implement the principle of statutory taxation and promote the smooth introduction of the Stamp Tax Law. We will actively advance legislation on value-added tax, consumption tax, tariff and other taxes. We will improve the local tax system and, in conjunction with legislation on consumption tax, study and advance reform of the link where consumption tax is collected later.

Third, the fiscal system is improving. We will implement the reform plan on the division of fiscal powers and spending responsibilities between the central and local governments in education, science and technology, and the environment, and further clarify the scope of their responsibilities. We will carry out reform of the fiscal system at and below the provincial level. At the same time, in accordance with the decisions and arrangements of the CPC Central Committee and The State Council, we will regularly implement the direct mechanism of government funds and expand the scope of direct funds.

4) Steady progress was made in the reform of state-owned assets and enterprises. We will deepen the reform of state-owned assets and soes, and carry out the three-year action to reform soes. We will improve the system for managing state-owned assets, and work to improve the reporting mechanism for managing state-owned assets. We launched a special campaign to register the property rights of state-owned financial capital. We will study and improve the authorized operation system and incentive and restraint mechanism for state-owned financial capital, and promote reform of key state-owned financial enterprises.

  1. We improved fiscal management and significantly improved our ability to fully perform fiscal functions in accordance with the law.

First, the financial and legal systems will be improved. We issued several Measures of the Ministry of Finance on Accelerating the Construction of fiscal Rule of law in Implementing the Spirit of the Fifth Plenary Session of the 19th CPC Central Committee and the Spirit of the Central Working Conference on Comprehensively Governing the Country according to Law, and gave full play to the role of fiscal rule of law in serving and guaranteeing the reform of the fiscal and taxation systems. We revised and completed the Legislative Work Rules of the Ministry of Finance and the Administrative Measures for the Formulation of Administrative Normative Documents of the Ministry of Finance, making fiscal legislation and policy making procedures more scientific and standardized. We promoted the promulgation and official implementation of regulations on the administration of state-owned assets for administrative purposes. We will make orderly progress in legislating the Government Procurement Law (revision), the Accounting Law (revision), the Regulations on the Management of State-owned financial Capital (formulation), and the Measures for the management of State-owned assets Evaluation (revision). We made steady progress in formulating and revising fiscal regulations on budget review, government procurement, social assistance, and financial management. We will promptly evaluate the budget Law after it is enacted. We will strengthen legislative research and research in key areas of public finance, and make better use of the development of public finance and laws to guide and promote public finance reform.

2) Reform to delegate power, improve regulation, and improve services was deepened. By now, the number of items requiring administrative examination and approval has been reduced by 88%, and only three items requiring administrative examination and approval have been retained at the ministry and the local level, thus continuously improving the efficiency of fiscal administration. In accordance with the principle of “statutory powers and responsibilities and equal powers and responsibilities”, the Ministry of Finance has steadily promoted the compilation of the list of powers and responsibilities, sorting out the statutory basis, ways of performing responsibilities and the situation of accountability, laying a foundation for fully performing fiscal functions in accordance with the law. Further standardize administrative law enforcement procedures, explore online administrative penalty hearings, and continue to push forward the implementation of the three systems in the Ministry, namely, publicity of administrative law enforcement, recording of the whole process of law enforcement, and legal review of major law enforcement decisions.

  1. Strengthening financial and accounting oversight and promoting a sustained improvement in the order of the market economy

First, oversight systems and mechanisms have been improved. We will study and draft the Guiding Opinions on Strengthening Financial supervision, further advance the revision of the Accounting Law and the CPA Law, tighten the main responsibilities of all regulatory departments, and promote the development of financial supervision. We must resolutely submit to and serve intra-Party oversight, and ensure that oversight of the financial accounting system is coordinated with oversight of people’s congresses, auditing and other oversight bodies, so as to form synergy between oversight.

Second, supervision has been strengthened. Strengthening policy tracking efficiencies, surrounding the fiscal and taxation policy implementation, guard against local government debt risk, increasing the performance of funds, public budget situation, enterprises violation charge in key areas, flexible use of the supervision and inspection, special projects, and a variety of means such as performance evaluation, ensure the central major fiscal and taxation policies and effectively implementing modern fiscal and taxation system reform measures, We will resolutely prevent government funds from becoming the flesh of Tang Priest. We will fully implement the government’s requirements to tighten our belts, resolutely investigate and punish the illegal use of government funds to build new buildings and government buildings, crack down on extravagance and waste, and never allow financial discipline to be used as a straw man.

Third, accounting audit supervision was further strengthened. Adhere to the “zero tolerance” to crack down on financial fraud, strict supervision of accounting firms engaged in securities business, improve the quality of accounting profession, promote the maintenance and regulation of market economic order.

  1. Fiscal policy outlook

The Treasury will adhere to xi jinping, a new era of socialism with Chinese characteristics thoughts as the instruction, implements and realizes the central economic work conference spirit and deployment of the government work report, always adhere to seek improvement in stability work tone, complete, accurate, comprehensive implementation of new development concept, adhere to a proactive fiscal policy efficiency, more sustainable, keeping fiscal policy continuity, stability and sustainability, We will coordinate fiscal policies for this year and next, make them more effective and more efficient, keep the economy operating within an appropriate range, and strive to accomplish the main targets and tasks for economic and social development for the year.

We implemented a proactive fiscal policy to better play the key role of stabilizing the economy.

We will further implement the regular direct government funds mechanism, strengthen monitoring, analysis, and judgment, ensure that the regular direct government funds mechanism works smoothly, accurately, and efficiently. We will accelerate the progress of government expenditures, strengthen the guarantee of expenditures in key areas, and effectively improve the efficiency of the use of funds. We will appropriately accelerate the issuance of local government special bonds, make good use of funds from local government special bonds, guide local governments to increase their project reserves, and see that actual work is done by the end of this year and early next year. We will strengthen performance management of special bond project funds and improve the efficiency of bond fund allocation and use. We will implement the policy of reducing taxes and fees in narrow categories, strengthen policy publicity, step up efforts to crack down on fees and fees collected by enterprises in violation of regulations, resolutely avoid excessive taxes and fees, follow up the monitoring and analysis of the effects of tax and fee cuts, and promptly study and resolve prominent problems that market entities report.

  1. We strengthened overall planning of fiscal resources to ensure financial support for major national strategic tasks.

We will support the expansion of effective investment, ensure funding needs for key projects, improve the way government investment is arranged, and strengthen the sustainability of investment growth. We will promote coordinated development among regions and a new type of people-centered urbanization, and make basic public services more equal. We will support the full implementation of the rural vitalization strategy and ensure that achievements in poverty alleviation and expansion are effectively linked to rural vitalization. We will strengthen pollution prevention and control and ecological improvement, and advance in an orderly manner the protection and restoration of key ecosystems, as well as efforts to achieve carbon peak and carbon neutralization.

  1. We will ensure and improve people’s wellbeing and enhance their sense of gain and happiness.

We will do everything possible to stabilize and expand employment, and continue to support key groups in finding jobs. We will strengthen basic livelihood support, support the solution of education, elderly care, medical care and other immediate and practical issues of the greatest concern to the people, and continue to ensure funding for vaccination and epidemic prevention and control. We will fully implement government requirements to tighten our belts and save money for the people. We will strengthen assessments of the fiscal affordability of policies aimed at improving people’s wellbeing, make spending management more standardized and transparent, and make policies aimed at improving people’s wellbeing more sustainable.

  1. Promoting innovation-driven development and industrial upgrading and ensuring the stability of industrial and supply chains

We will support efforts to accelerate self-reliance in science and technology, strengthen national strategic science and technology capabilities, increase spending on basic research, wage a critical battle against key and core technologies, and speed up the transfer and application of scientific and technological achievements. We will strengthen the resilience of industrial and supply chains and support the high-quality development of manufacturing. We will stimulate the innovation of enterprises and talents, support the development of inclusive finance, and strengthen incentives and guarantees for innovation.

  1. Actively forestall and defuse risks in key areas and promote sustainable fiscal development

We will strengthen oversight and accountability, and continue to forestall and defuse hidden debt risks of local governments. We will strengthen the central government’s financial support for local governments, strengthen the implementation of local responsibilities, increase financial support, and strengthen support for areas in difficulty. We will give full play to the role of financial and accounting oversight, strengthen policy follow-up and follow-up, tighten financial discipline, and maintain a sound market economy order and business environment.

  1. Further deepening reform of the fiscal and taxation systems and accelerating the establishment of a modern fiscal system.

We will continue to deepen reform of the budget management system, strengthen budgetary restraint and performance-based management, accelerate the development of a system of expenditure standards, further standardize expenditure management, optimize the expenditure structure, and strengthen medium-term fiscal planning and management. We will implement the reform plan for dividing fiscal powers and spending responsibilities between the central and local governments, and accelerate research and reform of the fiscal system at and below the provincial level. We will implement the principle of statutory taxation, and actively advance legislation on VAT, excise tax, and customs duties. We will continue to improve the modern taxation system, improve the local and direct taxation systems, steadily move forward the reform of excise tax collection on some items that have been delayed, and steadily shift the excise tax to local governments. We will coordinate the reform of non-tax revenue. We will continue to deepen the reform of state-owned assets and soes and promote the reform of key state-owned financial institutions

So this is a great opportunity to get some financial help for your new energy business, if you see here, and if you qualify, then apply now.With the strongly support from the Chinese government,all the new energy companies in China will develop with a promising future.We believe China’s renewable power generation industry will thrive in the coming years, providing more green energy and helping to protect the planet.

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