Page 13 - REPORT ON THE EXECUTION OF THE CENTRAL AND LOCAL BUDGETS FOR 2022 AND ON THE DRAFT CENTRAL AND LOCAL BUDGETS FOR 2023

with temporary work subsides of 200 yuan and 300 yuan respectively per person
per day.
Giving stronger support to specific industries and disadvantaged groups

We waived VAT for public transportation and express delivery services,
temporarily postponed the payment of social security premiums by qualified

micro, small, and medium enterprises (MSMEs) as well as 22 distressed sectors,
including catering, retail, and tourism, further extended the tax payment
suspension for the manufacturing sector, and sped up export rebates, thereby

helping market entities get through this challenging time. We intensified support
for small and medium-sized enterprises (SMEs) through government procurement.

The volume of re-guarantee business conducted through the National Financing
Guarantee Fund increased by over 1 trillion yuan. We continued with the policy of

reducing premiums for unemployment insurance and workers’ compensation. The
ceiling for unemployment insurance premium refund rates was raised from 60% to

90% for MSMEs and from 30% to 50% for large enterprises to help them maintain
stable employment. We introduced policies such as one-off subsidies for
enterprises that provide work opportunities as a substitute for vocational training

and that hire unemployed college graduates, and supported key groups such as
college graduates and rural migrant workers in seeking employment and starting

businesses. We provided timely assistance to unemployed people, people who
were eligible for subsistence allowances, as well as those in temporary difficulty,

ensuring that everyone in need received the benefits and assistance they were
entitled to.

 We strengthened funding and policy support to ensure stable fiscal
operations at the primary level.
The central government taking the lead in cutting expenditures and channeling more

financial resources to lower-level governments
In compliance with the requirement for Party and government offices to

tighten their belts, central departments cut expenditures by 3.5% in order to
provide greater financial support to local governments. Central government

transfer payments to local governments last year came to 9.71 trillion yuan, an
increase of 1.42 trillion yuan or 17.1% over the previous year, tilting toward

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