During a recent press conference organized by the Propaganda Department of the Shanxi Provincial Committee of the Communist Party and the Shanxi Provincial Government, important financial updates were revealed regarding the region’s public budget. From January to September 2024, Shanxi Province saw its general public budget revenue reach 251.35 billion yuan, with a notable 8.6% growth in the third quarter. Meanwhile, expenditures totaled 422.94 billion yuan, with nearly 80% of that—approximately 336.57 billion yuan—dedicated to enhancing the living standards of its residents.
段萃, Deputy Director of the Shanxi Provincial Finance Department, explained how the province has prioritized spending on people’s livelihoods in recent years, maintaining a robust commitment to increasing investments in this area. The focus has been on universal, foundational, and safety net services aimed at addressing the pressing needs and concerns of the population, thereby improving their quality of life.
The trend in Shanxi’s budget continues to show a steady rise in social spending. In line with principles that emphasize safety nets, sustainability, and precision, the finance department has taken careful measures to allocate funds effectively. In 2023 alone, total expenditures on social welfare reached 499.79 billion yuan, accounting for 78.8% of the province’s general public budget and marking a 7% increase. In the first three quarters of this year, social spending amounted to 336.57 billion yuan, supporting key areas such as education, healthcare, social security, employment, and rural development.
Deputy Director Duan highlighted an initiative where the provincial government has allocated 14.047 billion yuan to bolster poverty alleviation efforts and support rural revitalization. Additionally, 5.564 billion yuan has been designated for enhancing urban drainage capabilities and improving urban infrastructure projects to facilitate integrated urban-rural development.
Shanxi is also taking concrete steps to maintain a solid social security baseline. With 1.735 billion yuan earmarked for employment support, the province aims to stabilize job opportunities for key demographics such as recent graduates, migrant workers, and veterans. Fiscal investments in education are guaranteed to increase without exception, and over 1 billion yuan is being allocated to bolster healthcare initiatives and support the construction of regional medical centers.
Moreover, the provincial finance department is committed to enhancing the welfare standards continually. Last year, adjustments were made to 17 social policies, including subsidies for rural doctors and basic living allowances. This year, there has been a further increase in the basic pension for urban and rural residents, as well as funds for public health services.
In addition to these measures, the Shanxi Provincial Finance Department has ramped up financial support for various social projects. Last year, 968 million yuan was disbursed for 12 key social welfare initiatives. This year, efforts will be intensified further to support 15 additional welfare projects, with 1.848 billion yuan already allocated for these initiatives.
The developments in Shanxi’s budget indicate a dedicated approach towards ensuring that the needs of its citizens are met effectively and sustainably.
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