Economic Daily: Jin Guanping - Enhancing fiscal sustainability.

The article states that the "sustainability" string still needs to be tightened at all times. From the revenue side, factors such as insufficient domestic demand and operational difficulties faced by some enterprises constrain fiscal revenue growth; from the expenditure side, the implementation of an active fiscal policy, strengthening support for areas such as expanding investment, ensuring people's livelihoods, stabilizing employment, and promoting consumption, are necessary as a series of key expenditures experience rigid growth. Taken together, there is considerable pressure on fiscal balance, and enhancing fiscal sustainability has become an important task for reform and development. Efforts to expand the economic and revenue "cake" are necessary for a more solid and sustainable fiscal operation. Strengthening countercyclical and inter-cyclical adjustments, implementing more proactive macroeconomic policies, continuously ensuring growth, employment stability, and stable expectations, striving to expand domestic demand, strengthen domestic circulation, and promote sustained and healthy economic development. When the economy improves and businesses grow, fiscal revenue will have more sources of fresh water. From the perspective of fiscal and tax system reform, it is also necessary to improve local taxes, direct tax systems, standardize tax preferential policies, maintain a reasonable macro tax burden level, and increase local autonomous financial resources. Currently, the task of preventing and defusing local government debt risks remains arduous, with some regions facing a heavy debt burden. It is important to implement a package of debt-for-debt policies, persist in debt-for-development and development-in-debt, continue to prevent and resolve risks, and hold those who violate borrowing rules and engage in false borrowing accountable. Accelerate the reform and transformation of local financing platforms, strictly prohibit the establishment or transformation of various types of financing platforms. Additionally, optimize the government debt structure, and accelerate the establishment of a long-term government debt management mechanism that aligns with high-quality development. By firmly upholding the bottom line of preventing systemic risks, the sustainability of fiscal development will be better ensured.