Li Zhanshu, chairman of the National People's Congress(NPC) Standing Committee, attends a panel discussion at the ongoing bimonthly session of the NPC Standing Committee in Beijing, capital of China, June 26, 2019. (Xinhua/Ding Lin)
China's top legislature Wednesday heard a report on the central government's final accounts and an audit report for 2018 at a plenary meeting of its ongoing bimonthly session.
Li Zhanshu, chairman of the National People's Congress (NPC) Standing Committee, attended the plenary meeting.
Entrusted by the State Council, Finance Minister Liu Kun delivered the report on 2018 final accounts.
The central government's general public budget revenue was about 8.55 trillion yuan (1.24 trillion U.S. dollars), while the general public budget expenditure was about 10.2 trillion yuan, accounting for 100.1 percent and 99.1 percent of the budget respectively, Liu said.
Liu said that the ministry would ensure larger-scale implementation of tax cuts and fee reductions, improve budget execution, and fulfill major reform tasks.
Entrusted by the State Council, Hu Zejun, head of the National Audit Office, made an audit report on execution of central government's 2018 budget and other fiscal revenue and expenditure.
Efforts are needed to constantly deepen supply-side structural reform, pursue a proactive fiscal policy with greater intensity and enhance its performance, win the "three tough battles," and implement the requirements to reduce burdens on primary-level authorities, according to the audit report.
The meeting heard a report on the examination results of the draft 2018 final accounts made by Shi Yaobin, vice chairman of the NPC Financial and Economic Affairs Committee.
Luo Shugang, minister of culture and tourism, briefed lawmakers on a report of cultural industry development at the meeting. Since the 18th National Congress of the Communist Party of China, the development of the cultural industry has gained good momentum, the report said.
Lawmakers also heard a report on implementation of law on the promotion of small and medium-sized enterprises delivered by Chen Zhu, vice chairman of the NPC Standing Committee.
Wan Exiang, vice chairman of the NPC Standing Committee, presided over Wednesday's meeting. Enditem