促進經濟增長 積極的財政政策更加積極有爲

財政部部長劉昆日前在十三屆全國人大三次會議首場“部長通道”採訪活動中表示，在今年的一般預算安排上，中央財政對地方的轉移支付增加了12.8%，這在近年來是最高的。根據2020年《政府工作報告》，今年赤字率擬按3.6%以上安排，財政赤字規模比去年增加１萬億元，同時發行1萬億元抗疫特別國債。

China will adopt a more proactive fiscal policy by expanding central government budget deficit and increasing fund transfers to local governments to boost investment and maintain stable economic growth, according to the 2020 Government Work Report.

根據2020年《政府工作報告》，積極的財政政策要更加積極有爲。中央政府將通過增加財政赤字規模，以及增加對地方政府的轉移支付，來擴大投資，保持經濟平穩增長。

The central government has planned a fiscal budget deficit of about 3.76 trillion yuan this year, an increase of 1 trillion yuan from last year. The deficit-to-GDP ratio is projected at more than 3.6 percent, compared with 2.8 percent last year.

今年中央政府擬安排財政赤字約3.76萬億元，財政赤字規模比去年增加１萬億元。今年赤字率擬按3.6%以上安排，去年這一數字爲2.8%。

In addition, China will issue 1 trillion yuan of special central government bonds to mitigate the COVID-19 epidemic effect.

同時，我國將發行1萬億元抗疫特別國債，以減輕新冠肺炎疫情的影響。

The proceeds of the special treasury notes and the increased fiscal deficit will all be transferred to local governments, Premier Li Keqiang said on Friday while delivering the Government Work Report during the opening of the third session of the 13th National People's Congress.

5月22日，第十三屆全國人大三次會議開幕，國務院總理李克強向大會作政府工作報告時說，抗疫特別國債和增加的財政赤字全部轉給地方。

The central government will also increase funds transferred to local governments by 12.8 percent to support infrastructure investment and counter economic fallout, Finance Minister Liu Kun told reporters after the opening of the NPC session on Friday.

第十三屆全國人大三次會議開幕式後，財政部部長劉昆告訴記者，在今年的一般預算安排上，中央財政對地方的轉移支付增加了12.8%，以支持基礎設施投資，應對疫情對經濟的影響。

It will be the highest growth rate till date in the transfer of payments to local governments and is aimed at safeguarding employment and people's livelihoods, as fiscal income is projected to decrease this year due to the COVID-19 epidemic, said Liu.

劉昆說，受新冠肺炎疫情的影響，今年財政收入下降。今年的轉移支付增加比例在近年來是最高的，以保障就業和民生。

He said that local governments' fiscal income is projected to reduce by 800 billion yuan to 900 billion yuan this year and some regions may face severe pressure.

他說，地方財政減收增支的規模在8000億元到9000億元，一些地方面臨較大壓力。

Meanwhile, the government has also raised the quota for local government special bonds to 3.75 trillion yuan to boost investment and shore up economic growth.

同時，今年擬安排地方政府專項債券3.75萬億元，比去年有所增加，以促進投資，支撐經濟增長。

China's fiscal stimulus package could reach a total of 8.5 trillion yuan if the expanded central government budget deficit, the issuance of the special treasury notes and the local government special bonds are included, said Luo Zhiheng, former chief macroeconomic researcher at the Evergrande Research Institute.

恆大研究院前首席宏觀經濟研究員羅志恆表示，如果將增加的中央政府預算赤字、特別國債和地方政府專項債券的發行計算在內，中國的財政刺激方案總額可能達到8.5萬億元。

The policy stance is an indication that fiscal policy has played a lead role in offsetting the economic risks and will help realize the "six priorities" laid out by the government, including safeguarding employment and people's livelihoods, Luo said.

他說，這一政策立場表明，財政政策在抵消經濟風險方面發揮了主導作用，並將有助於實現政府提出的“六保”，包括保障就業和民生。

Liu Shangxi, head of the Chinese Academy of Fiscal Sciences under the Finance Ministry, told China Daily that the funds for the 1 trillion yuan special treasuries may come from some targeted commercial banks.

財政部中國財政科學研究院院長劉尚希在接受《中國日報》採訪時表示，1萬億元特別國債的資金可能來自一些目標商業銀行。

Liu, who is a member of the National Committee of the Chinese People's Political Consultative Conference said that the current market liquidity is sufficient to support the new issuance and the issuance should avoid side-effects, such as growth in interest rates.

全國政協委員劉尚希說，目前的市場流動性足以支持增發特別國債，特別國債的發行應避免負面作用，如利率增長。

Yang Weimin, former deputy head of the Office of the Central Commission for Financial and Economic Affairs, said the expanded fiscal deficit will be used to safeguard employment and livelihoods, especially in the city-and county-level governments, which is an innovative fiscal method.

中央財經領導小組辦公室前副主任楊偉民表示，增加的財政赤字將用於保障就業和民生，特別是在市縣級政府，這是一種創新的財政方法。

More monetary actions are needed to coordinate with the fiscal stimulus measures, such as further encouraging commercial banks to reduce the cost of loans, especially for small businesses, said Yang, a member of the Standing Committee of the 13th CPPCC National Committee.

十三屆全國人大常委會委員楊偉民說，需要採取更多的貨幣政策來配合財政刺激措施，比如進一步鼓勵商業銀行降低貸款成本，尤其是小微企業貸款成本。