📋 Tender Overview
The State Council Information Office will hold a regular briefing on policies of the State Council at 1500 pm on September 5 2022 Monday to introduce the relevant situation of the successive policies and measures of the economic stabilization package. Assistant Minister of Finance Owen Han attended the briefing and answered questions from reporters . The text is now excerpted as follows 1. Introduction stage Shou Xiaoli Deputy Director and Press Spokesperson of the Information Bureau of the State Council Information Office Ladies and gentlemen good afternoon Welcome to the regular briefing on policies of the State Council. Recently the State Council held an executive meeting to deploy successive policy measures to stabilize the economic package. In order to help you better understand the relevant situation today we are very pleased to invite Mr. Liu Guoqiang Deputy Governor of the Peoples Bank of China Mr. Yang Yinkai Deputy Secretary-General of the National Development and Reform Commission Mr. Owen Han Assistant Minister of Finance and Mr. Li Fei Assistant Minister of Commerce. . Ask them to brief you and answer questions of interest. Owenhan Friends from the press good afternoon. First of all on behalf of the Ministry of Finance I would like to thank the journalists for their concern and support for fiscal work. After the introduction of a package of policies and measures to stabilize the economy the Ministry of Finance attached great importance to it quickly refined the relevant work and resolutely implemented it. Specially held a national fiscal meeting to deploy and implement the work follow up the progress of policy implementation every week and promote the implementation of various policies and measures. Below I will introduce the implementation of the policy from four aspects. The first is to further strengthen the tax rebate policy. Since July 1 seven industries including wholesale and retail accommodation and catering have been included in the policy scope. This year the central government has specially arranged a transfer payment of 1.2 trillion yuan to support the grassroots implementation of tax rebates etc. and establish tax rebates A separate allocation and advance mechanism of funds. From January to July a total of 2.06 trillion yuan of tax rebates were processed and more market players enjoyed policy dividends. At the same time organize budgetary revenue in accordance with laws and regulations to effectively meet the needs of key expenditures. The second is to speed up the progress of fiscal expenditure. As of the end of July the transfer payment from the central government to the local government has reached 9.17 trillion yuan accounting for 93.6 of the total annual scale and all qualified funds have been allocated direct funds have been issued over 4 trillion yuan accounting for 98.3 of the annual total scale and 2.1 trillion yuan of expenditures have been formed in various regions accounting for 65.1 of the total amount allocated which strongly supports the three guarantees work of ensuring market entities employment peoples livelihood and grass-roots finance. The third is to speed up the issuance and use of local government special bonds. As of the end of August a total of 3.52 trillion yuan of special bonds had been issued and the quota for project construction had been basically issued much earlier than in previous years. At the same time new infrastructure and new energy projects will be included in the key support scope of special bonds and the role of special bonds in driving the expansion of effective investment will be better played.
