Last year's land sales land sales reduced 2 trillion yuan (RMB, the same below, about S $ 400 billion), Chinese Finance Minister Liu Kun responded: "The impact is not so great."
According to the First Financial Report, Liu Kun said at a press conference at the New Council on March (March 1) that the budget of the government fund for land transfer income is the main body of local government fund budgetsEssenceFrom the perspective of the national government fund budget, some income is transferred to the use of general public budgets, accounting for about 15%of the budget of local government funds. Although there was a decline last year, the impact on the general public budget expenditure of local public budgets last yearIt is controllable.
He introduced that the specific data is yet to be determined. If the income of land transfer income in 2022 is reduced by about 2 trillion yuan, it will affect the local public budget financial resources of about 300 billion yuan.
Liu Kun said: "I want to explain that land transfer income is hair income. While revenue is reduced, it will also reduce costs such as demolition compensation.The branch is linkage, so its income decline is not so great. "
For example, a town in Guangdong is expected to be about 1.8 billion yuan at the beginning of last year.The block failed to be launched as scheduled. In the end, the estimated revenue at the beginning of the year was more than 1.7 billion yuan at the beginning of the year, a decrease of nearly 98%.Correspondingly, the town reduction of the transferred right of the use of state -owned land sharing income and special bonds arranged by the project expenditure of 1.780 billion yuan.
He introduced that China's finance has "four accounts", which are general public budgets, government fund budgets, state -owned capital business budgets, and social insurance funds budgets.Among them, general public budgets are mainly tax revenue and non -tax income, and related expenditures related to people's livelihood are mainly reflected in this account.The government fund budget is mainly for the funds collected by specific objects, which are specially used in the development of specific public undertakings. Among them, the proportion of land transfer revenue accounts for 90 % of the budget revenue of local government funds.
In the past 20 years, with the rapid development of the real estate market, local government land transfer revenue has increased rapidly, reaching the peak of 8.7 trillion yuan in 2021.Due to the slowdown in economic growth in recent years, the impact of the impact of epidemic situation, tax reduction, etc., local public budget revenue has grown weakly, and local revenue on land transfer income is increasing.According to the budget algorithm, government funds can provide general public budgets by "calling out funds" or supplementing the "budget stable adjustment fund".Therefore, government funds, which are dominated by land -selling income, have become a major source of local financial resources.
However, according to Liu Kun's above explanation, the funds that transferred the general public budget income in local government funds accounted for about 15%of the funds.300 billion yuan.
In order to make up for the decline in the revenue of the local general public budget at the local general public budget last year (-2.1%), the central government has increased the payment of local transfer and payment, which has hedged to a certain extent the local reducing pressure.According to data from the Ministry of Finance of China, last year, the central government's local transfer payment scale was 9.71 trillion yuan, an increase of 1.42 trillion yuan, an increase of 17.1%.
Liu Kun said that about 40%of the current local financial resources come from the central government's transfer payment. In the past three years, the central government's average annual increase in local transfer payment has increased by 9.3%.This growth rate is 6.8 percentage points higher than the increase in general public budget revenue in the local level, which effectively makes up for the lack of income at this level.From the perspective of local budget execution, the average increase in local fiscal expenditure in the past three years has reached 3.4%. Therefore, local finance is a state of tight balance, but it is also a state of increased total.The local execution is better.
