Page 28 - REPORT ON THE EXECUTION OF THE CENTRAL AND LOCAL BUDGETS FOR 2022 AND ON THE DRAFT CENTRAL AND LOCAL BUDGETS FOR 2023

made at the Central Economic Work Conference, and make solid progress in
promoting Chinese modernization
 Adhere to the general principle of pursuing progress while ensuring stability,

fully and faithfully apply the new development philosophy on all fronts, move
faster to foster a new pattern of development, and pursue high-quality

development
 Keep in mind both domestic and international imperatives, better coordinate
Covid-19 response with economic and social development, and both pursue

development and ensure security
 Enhance the intensity and effectiveness of our proactive fiscal policy with a

greater focus on precision and sustainability
 Improve preferential tax and fee policies, strengthen coordination of fiscal

resources, and maintain the necessary level of spending
 Make every effort to optimize the spending structure, strengthen fiscal

guarantees for major national strategic tasks, enforce the requirement for Party
and government organs to tighten their belts, provide solid guarantees for the
three priorities at the primary level, and allocate fiscal resources more

efficiently
 Step up assessment of fiscal capacity to ensure sustainability and keep the debt

risks of local governments under control
 Improve the modern budget system, the tax structure, and the system of

government transfer payments, advance reform of the fiscal and tax systems,
and enhance the effectiveness of macro regulation through fiscal policy

 Strive to facilitate overall economic recovery, both effectively upgrade and
appropriately expand economic output, continue to improve public wellbeing,
ensure social stability, and provide robust support to set the stage for building

a modern socialist country in all respects
We will enhance the intensity and effectiveness of our proactive fiscal policy.

We will make further efforts to increase government spending as appropriate and
improve its structure, and focus on coordinating fiscal policy with monetary,

industrial, scientific and technological, and social policies, so that our proactive
fiscal policy will exert its role in a more direct and effective way.

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