CCTV news: The Ministry of Finance recently released the "Report on the Implementation of China's Fiscal Policy in 2025". In 2025, China's fiscal operations will be stable and orderly, and the budget implementation will be generally good.

In 2025, my country's economic operation will be generally stable and make progress, and the fiscal operation will be stable and orderly. The national general public budget revenue is 21.6 trillion yuan, and tax revenue has increased; the national general public budget expenditure is 28.7 trillion yuan, maintaining the necessary intensity, and expenditures in key areas such as social security and employment, education, and health are effectively guaranteed. At the same time, we strictly implement the tight living requirements of party and government agencies, and tighten the "three public" budgets of central departments, which is 5% lower than the 2024 budget, and the efficiency of the use of fiscal funds continues to improve.

In terms of boosting consumption, we will intensify efforts to expand the implementation of trade-in of consumer goods and innovatively implement consumer loan interest discount policies. Data show that as of the end of 2025, the balance of personal consumption loans of 23 handling institutions was nearly 6 trillion yuan, an increase of more than 500 billion yuan from 2024, an increase of 10.2%. The handling agencies have issued loans exceeding RMB 2 trillion to more than 1.4 million service industry business entities, helping business entities improve consumption infrastructure and enhance service supply capabilities.

In terms of investment expansion, in 2025, the new local government special debt limit will be 4.4 trillion yuan, an increase of 500 billion yuan from 2024. It will mainly be invested in transportation infrastructure, affordable housing projects and urban renewal, forward-looking strategic emerging industry infrastructure and other fields. It will support more than 48,000 projects and use more than 300 billion yuan in project capital to help expand effective investment.

In addition, in 2025, active fiscal policies played an important supporting role in supporting the deep integration of technological innovation and industrial innovation, promoting urban-rural integration and regional linkage, and making greater efforts to protect and improve people's livelihood.