China's fiscal strength increased substantially, with remarkable expansion in fiscal revenue and expenditure, solidly supporting major development projects and public welfare during the 14th Five-Year Plan period (2021-2025), Finance Minister Lan Fo'an said in Beijing on Friday.
The minister made the remarks at a press conference held by the State Council Information Office on fiscal reform and development achievements during the 14th Five-Year Plan period.
"During the 14th Five-Year Plan period, national fiscal strength greatly increased, with the revenue 'pie' continuously growing. National general public budget revenue is expected to reach 106 trillion yuan, an increase of 17 trillion yuan, or about 19 percent, from the 13th Five-Year Plan period," said the minister.
"Expenditure intensity has been unprecedented, with total national general public budget expenditure over the five years expected to exceed 136 trillion yuan (about 19.1 trillion U.S. dollars), an increase of 26 trillion yuan (about 3.7 trillion U.S. dollars), or 24 percent, from the previous five years. More fiscal support was channeled into major development projects and practical matters concerning people's livelihoods," he said.
Official on China's fiscal strength growth in 5 years
