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The Chinese government will increase transfer payments to local
governments in 2004, especially those in the central and western
regions, for balanced development, Finance Minister Jin Renqing
said Saturday.
In addition to 427.7 billion yuan in tax rebates and structural
subsidies, the central government plans to grant local
governments513.3 billion yuan in transfer payments, an increase of
64.4 billion yuan over last year in comparable terms, he told
lawmakers gathering here at an annual session.
Of this amount, 223.8 billion yuan will come in the form of
general transfer payments, a rise of 32.6 billion yuan from last
year.
A special task force will be organized to thoroughly investigate
and study the causes of financial difficulties at the lower levels
of government, and propose specific measures to eliminate them as
soon as possible on a "type-by-type" and "step-by-step" basis.
According to Jin, the target for export tax rebates set in the
2004 central budget is 210.8 billion yuan, and revenue from the
increase in the value added tax and the consumption tax on imported
goods will be used first to pay export tax rebates.
"Local governments also need to set adequate targets for export
tax rebates," he said.
The minister also pledged to accelerate the formulation of
policies and plans to make the corporate income tax the same for
both Chinese and foreign enterprises and to reform other tax
systems this year.
In order to strengthen government authority and ensure that
government employees are paid on time and in full, an extra 11.8
billion yuan will be allocated from this year's central budget to
cover pay raises for employees of government organs and
institutions.
An extra 3 billion yuan will be allocated to increase benefits
for retired army officers who are taken care of by governments at
all levels and to cover the additional expenses resulting from
policy changes involving those entitled to special government care
and preferential treatment.
(Xinhua News Agency March 6, 2004)
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