Jilin Provincial Department of Finance implements proactive fiscal policy, 30.5 billion funds go straight to primary-level governments and benefit businesses and people

2020-07-12

To effectively cope with the impact of the epidemic, the Ministry of Finance increased fiscal deficits and issued special government bonds for COVID-19 control to support local governments to ensure stability on six fronts and maintain security in six areas. Jilin province actively raised financial resources and established a special transfer payment mechanism to ensure that funds would go straight to primary-level governments and benefit businesses and people. 

The CPC Jilin provincial committee and the provincial government clearly put forward coordinated planning and called for efforts to make full and best use of national policies, to do a good job in project reserve, to make preparations for undertaking special government bonds for COVID-19 control, and to work out detailed management rules of the special government bonds and assessment methods, so as to use the funds wisely. After receiving the government bonds and special transfer payment funds for fighting against the epidemic, the Provincial Department of Finance swiftly carried out preliminary basic work like fund allocation estimates, according to the unified arrangements and requirements of the state and the province. In strict accordance with the requirements of the state, the transfer payment funds should be estimated and allocated in a scientific and reasonable way to ensure that the funds go straight to primary-level governments and directly benefit businesses and people. The Provincial Department of Finance allocated all the 30.5 billion funds including government bonds and special transfer payments to prefecture and county governments, accounting for 100 percent of the direct funds. The allocated funds entered into the fund monitoring system for dynamic tracking.      
 
Finance departments at all levels should reasonably plan projects in strict accordance with the fields of fund support, closely track the use of direct funds such as government bonds for COVID-19 control and special transfer payments in all localities and departments, strengthen performance management as well as the application of performance assessment results, resolutely reduce inefficient and nonefficient funds, and constantly improve the use efficiency of direct funds.