Report: Overall Good Central Financial Settlement Last Year, More Active Fiscal Policy

On June 23, Finance Minister Lan Fo'an, entrusted by the State Council, presented a report on the 2025 central financial settlement to the 23rd meeting of the Standing Committee of the 14th National People's Congress. According to the report, the central financial settlement for 2025 is generally good, with a more active fiscal policy aimed at stabilizing economic operations and promoting high-quality development. In 2025, the central general public budget revenue is projected to be 93,972.53 billion yuan, which is 96.9% of the budget, and with related transferred funds, the total revenue will be 97,372.53 billion yuan. The central general public budget expenditure is expected to be 144,857.27 billion yuan, completing 98.2% of the budget, and with the addition of the supplementary central budget stabilization adjustment fund, the total expenditure will be 145,972.53 billion yuan. Regarding this year's fiscal operations, the report noted that since the beginning of the year, the finance department has focused on a strong start, implementing a more active fiscal policy and introducing a package of fiscal and financial collaboration measures to boost domestic demand. By the end of May, 6.41 trillion yuan in government bonds had been issued; 1.83 trillion yuan in new local government bonds had been issued; and 9.21 trillion yuan in central transfers to local governments had been allocated. In the first five months of this year, fiscal revenue and expenditure have operated smoothly, with strong support for key area expenditures. Moving forward, the finance department will precisely and effectively implement a more active fiscal policy, continuously optimize the fiscal expenditure structure, ensure strict budget execution and policy implementation, promote the expansion of domestic demand and optimize supply, advance the construction of a unified national market, effectively safeguard people's livelihoods, ensure stable operations of grassroots finances, and comprehensively strengthen scientific financial management.