Market rumors of fiscal stimulus plan (not yet implemented)
The Ministry of Finance's largest rescue policy in history is about to be introduced. This is another major fiscal policy adjustment after the central bank
1. Increase public budget expenditures. On the basis of implementing 10 trillion yuan in transfer payments from the central government to local governments, another 5 trillion yuan will be transferred in advance by the end of the year.
Issue long-term treasury bonds, ranging from 100 billion to 500 billion yuan per month, with a maximum annual treasury bond limit of 6 trillion yuan.
2. Increase livelihood subsidies. This year, a total of nearly 2 trillion yuan has been subsidized, and the end-of-year surprise subsidy will increase by 1 trillion yuan. Rural construction subsidies this year exceed 4.5 trillion yuan, and the end-of-year surprise subsidy will increase by 1.8 trillion yuan. Give money subsidies to the "poor" who are concerned about the market, and strive to have substantial results by the end of the year. In principle, it should not be lower than the local minimum wage standard.
3. Complete the increase of local tax power by the end of the year, and reduce taxes on a large scale. Urban construction, education surcharges, and local education taxes will be fully transferred to local governments. The personal income tax standard will be raised to the threshold of 8,000 yuan. The corporate income tax rate for qualified enterprises will be reduced from 25% to 20%, and the tax rate for qualified small and medium-sized enterprises will be adjusted to 0.5% (originally 5%). The focus of tax optimization will be adjusted next year.
