Ministry of Finance: The technological progress and competitive advantage of Chinese companies rely not on financial subsidies, but on the continuous research and development investment of Chinese companies and the hard work of millions of entrepreneurs.

On the 20th, Vice Minister of Finance Liao Min stated at a press conference at the State Council Information Office that I want to emphasize that the technological progress and competitive advantage of Chinese enterprises rely not on fiscal subsidies, but on the continuous research and development investment of Chinese enterprises and the hard work of millions of entrepreneurs. In response to possible violations in certain areas, high attention has been paid. The Ministry of Finance has already formed a cross-department task force with relevant departments and will continue to improve the task force's work mechanism, strengthen information sharing and supervision systems, improve the system of normative management of fiscal subsidies, deepen the clean-up and standardization work, and also strengthen local responsibilities, enhance supervision and management, and address violations when discovered.