The State Council Information Office held a series of themed press conferences on "Promoting High-Quality Development" on the 31st. Lin Zechang, Director of the Comprehensive Department of the Ministry of Finance, stated at the meeting that as of July 24, 418 billion yuan of ultra-long-term special government bonds had been issued.

Lin Zechang introduced that in the first half of the year, national general public budget expenditure was 13.7 trillion yuan; central transfers to local governments reached 8.99 trillion yuan, accounting for 88.1% of the budget at the beginning of the year; the 1 trillion yuan of additional government bonds issued last year has all been allocated to local governments and has basically been implemented in projects; as for new local government bonds this year, as of July 26, 190 billion yuan had been issued, with more new infrastructure, new industries and other fields included in the scope of special bond investment, and the allocation of special bond quotas tilted toward regions with well-prepared projects and good usage efficiency; this year, 1 trillion yuan of ultra-long-term special government bonds has also been arranged to support "Two Major" projects, and as of July 24, 418 billion yuan had been issued.

Lin Zechang stated that as various macroeconomic policies, including fiscal policy, are implemented and take effect, the endogenous driving forces of economic development are constantly being stimulated, and the economy is generally stable with steady progress. In the first half of the year, GDP grew by 5% year on year, the trend of industries transitioning toward "new" and "green" has become more evident, investment in high-tech industries and investment in manufacturing technological transformation grew by 10.6% and 10% year on year respectively, and new progress has been made in high-quality development.

Lin Zechang pointed out that next, the Ministry of Finance will intensify policy implementation to promote sustained economic recovery and improvement. It will focus on four specific areas of work:

First, better leverage the driving and amplifying effect of government investment. According to needs and project preparation conditions, promptly issue and use ultra-long-term special government bonds well, and actively support the implementation of the "Two Major" projects. Guide local governments to accelerate the issuance and use of special bonds, speed up the use of additional government bond funds and central budget investment, and generate more physical work volume.

Second, step up efforts to promote large-scale equipment renewal and trade-in of consumer goods. A notice has now been issued to coordinate the arrangement of about 300 billion yuan of ultra-long-term special government bond funds to strengthen support for the "Two New" work. We will actively work with relevant departments to solidly carry out this work.

Third, continue to strengthen basic livelihood security. Implement fiscal and tax policies in areas such as employment, education, elderly care and medical care, strengthen fiscal fund guarantees, and weave a dense and solid "safety net" for people's livelihoods.

Fourth, strengthen fiscal revenue and expenditure management. Strictly organize revenue in accordance with laws and regulations, and do not collect "excessive taxes and fees." Strictly control non-rigid and non-priority expenditures, and use fiscal funds where they are most needed. Strengthen the responsibilities of governments at all levels to ensure the stable operation of grassroots finances.