All proceeds of the special bond issuance and the rise in the fiscal deficit, totaling 2 trillion yuan, will be transferred to local governments, the report said.
报告称,特别国债和增加的赤字规模总共两万亿元将转给地方政府。
It highlighted fiscal support for the economy, despite setting no GDP growth target, as the pandemic disrupts activity via a combination of domestic and external shocks.
尽管没有设定GDP增长目标,但在疫情内外冲击扰乱经济活动的局势下,政府工作报告凸显了中央对经济的财政支持。
The fiscal deficit ratio was set higher than the 2019 target of 2.8 percent.
今年设定的财政赤字率高于2019年2.8%的目标。
Analysts said the phrase "or higher", used in the report, is a new expression that may indicate a willingness to raise the level later if necessary.
分析人士称,报告中用的“以上”这一新表达可能暗示着,如果必要的话还愿意进一步提高赤字率。
In the face of uncertainty, Beijing has raised the local government special bond quota to 3.75 trillion yuan, or 3.6 percent of GDP.
在不确定的情况下,中央拟将地方政府专项债券提高到3.75万亿元,相当于国内生产总值的3.6%。
The Government Work Report said the nation will maintain a prudent monetary policy in a more flexible and appropriate way. A variety of tools will be used, such as reductions in the reserve requirement ratio, interest rate cuts and re-lending, to enable broad money supply and aggregate financing to grow at notably higher rates than last year, it said.
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