On March 20, the website of the Ministry of Finance released the Report on the Implementation of China's Fiscal Policies in 2022, which included six aspects in the fiscal policy outlook.
It proposed to improve the tax support policy, to ease the difficulties of enterprises. Taking into account fiscal affordability and the need to help enterprises with bailouts, we will, on the basis of implementing policies introduced earlier, further improve tax and fee cuts in light of actual conditions, make them more precise and targeted, give priority to supporting micro, small and medium-sized enterprises, individual industrial and commercial households, and industries in acute poverty, promote the transformation and upgrading of enterprises, enhance their innovation capacity, and add vitality and impetus to enterprises. The report also calls for deepening the reform of the fiscal and taxation systems and upgrading the modernization of fiscal management. Improve the tax system. We will strengthen the management of state assets and capital, strengthen accounting management, and comprehensively modernize financial management.