This morning, the State Information Office held a press conference on the theme of “Starting the 15th Five-Year Plan” series. In response to media questions, “How can we further improve the effectiveness of financial macro-control during the “15th Five-Year Plan” period?” The relevant person in charge of the Ministry of Finance responded. Vice Minister of Finance Liao Min said that during the “15th Five-Year Plan” period, the Ministry of Finance will step up countercyclical fiscal adjustment efforts in accordance with the relevant arrangements of the Party Central Committee and the State Council, pay more attention to improving the effectiveness and accuracy of macroeconomic macro-control, and lay a solid foundation for stabilizing the macroeconomic market, promoting economic restructuring, and promoting stable and far-reaching high-quality economic and social development. Overall, it is necessary to speed up the establishment and improvement of a modern financial macro-control mechanism with accurate policies, diverse tools, strong guidance, and coordination and efficiency. Liao Min explained that during the “15th Five-Year Plan” period, fiscal macro-control will focus on grasping the general tone of steady progress. On the one hand, maintaining the continuity and stability of macroeconomic policies; on the other hand, planning and introducing incremental policies in a timely manner to make better use of the integrated effects of stock policies and incremental policies. At the same time, emphasis will be placed on total volume and structure, more on investing in people, and reasonably increasing the share of public service expenditure in fiscal expenditure. In addition, it will also focus on supply-side and demand-side collaboration and coordination of policy tools. It will focus on the blockages and difficulties that limit the smooth flow of the economic cycle, promote the normal long-term effectiveness of fiscal and financial linkages, use financial resources to drive financial resources, and better stimulate consumption potential and investment vitality. Liao Min explained that while planning and implementing financial macro-control, it will also insist on using reforms to increase momentum, management to improve efficiency, insurance and safety, improve the efficiency of financial resource allocation and capital use, better maintain growth and promote transformation, and achieve a virtuous cycle of high-quality economic development and financial sustainability.

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