"China's finances are at an important historical juncture.

   On the one hand, China is at a critical moment of winning the three major battles and building a moderately prosperous society in an all-round way, and the dawn of victory is already on the horizon; on the other hand, at the beginning of 2020, a global COVID-19 pandemic suddenly broke out, and the economic and social operations were suddenly hit hard. We need to implement a more proactive fiscal policy. The historical boulder is about to reach the top of the mountain, but the huge external shock has become a huge obstacle. The times have given fiscal policy a big question, to see whether it can work together with other policies to push the boulder to the top of the mountain.

  Objectively speaking, after the implementation of After the large-scale tax and fee reduction reforms of 1.3 trillion yuan in 2019 and 2.3 trillion yuan in 2020, China's fiscal space for maneuver has been greatly tightened. The situation is pressing. In 2020, the fiscal space must be more creative within the narrower space for maneuver to mitigate the impact of the epidemic and achieve the great strategic goal of building a moderately prosperous society in all respects.

  Finance is the account book of the people of the whole country and the weather vane of economic operation. The fiscal actions and the degree of government role all depend on the degree of understanding of this account. This report comprehensively presents and analyzes the overall operation of China's fiscal system in 2019, and on this basis, analyzes the situation in 2020.

  Historical experience tells us that when facing major economic and social challenges, there are two roles and outcomes for finance: one is to constantly act as a firefighter, with fiscal funds and policies changing from time to time, which only makes the fiscal situation worse; the other is to turn crises into opportunities, with finance being more proactive in policy implementation and institutional reform, ultimately overcoming challenges while also making the fiscal system better. This was the case with the reform of the "Two Tax Laws" and the tax-sharing system reform in the mid-1990s, which delivered an excellent answer. We look forward to today's finances showing the future What is the ability to turn crises into opportunities, the ability to reverse the trend of the times, and the pillar of the rise of the Chinese nation!

  While being created by history, China's finance is also creating history. ”

————Lv Bingyang, 2020, "China's Fiscal Operation Report (2019/2020): Rolling Stone Uphill", China Renmin University Press

  With the authorization of Professor Lv Bingyang of Renmin University of China, CnOpenData has established a display area and data index for China's fiscal operation data for scholars to browse.

  For data download and more information about this data, please jump to China's Fiscal Operation Data, or download the data directly at the end of this page.

Data Content

Fiscal Operation Data of China's Regions 2019/2020

References

• Lv Bingyang et al., 2020, China Fiscal Operation Report (2019/2020): Rolling Stones Uphill, China Renmin University Press

Data update frequency

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