Recently, the Standing Committee of the Teng County People's Congress in Wuzhou City, Guangxi, carried out special research on Teng County's budget execution in the first half of 2026.
The research team held a symposium to specifically hear reports from relevant county government departments on budget execution, and also conducted research in townships including Tangbu Town, Mengjiang Town, Pingfu Township and Ningkang Township, listening to opinions and suggestions from township governments and some people's congress deputies on government budget execution work.
The research team learned that in the first half of this year, Teng County implemented a more proactive fiscal policy, vigorously optimized the expenditure structure, strengthened the overall planning of fiscal funds, assets and resources, and enhanced scientific fiscal management.
It actively improved supporting infrastructure construction in industrial parks, supported technological transformation, upgrading and industrial optimization of pillar industry enterprises, and continued to advance work on expanding sources and increasing revenue.
It strengthened revenue collection and management, improved the professional management level of tax sources, revitalized state-owned assets and resources through multiple channels, and consolidated the foundation of fiscal security.
It adhered to the principle that Party and government organs must tighten their belts, practiced strict economy, coordinated funds for investment in livelihood areas, and comprehensively advanced rural revitalization.
It fully arranged the "three guarantees" budget, solidly advanced the resolution of government debt risks, and held the bottom line of preventing systemic risks.
It intensified budget performance management, carried out special supervision focusing on key areas and critical links of fiscal management, and ensured the safe and standardized use of funds.
All these efforts effectively promoted the sustained and steady development of the county's economy and society.
During the research, the team found the following problems and difficulties in Teng County's budget execution in the first half of this year: First, local fiscal revenue growth is weak, the fiscal self-sufficiency rate is low, and dependence on transfer payments from higher levels is relatively high.
Local public budget revenue growth is sluggish, making it difficult to support public budget expenditure needs, and there is considerable pressure to guarantee key areas and people's livelihoods.
Second, revenue from special bond projects fell short of expectations, increasing debt management risks.
Returns on some special bond projects were below expectations, and the projects' own revenue could not cover principal and interest repayment on special bonds, requiring the fiscal authority to coordinate other funds as a fallback, which increased difficulties in fiscal operations and debt management risks.
Third, the effectiveness of coordinating and revitalizing funds, assets and resources is insufficient, restricting the exercise of overall fiscal capacity.
In response to the existing problems, the research team pointed out that the county government and relevant departments should, first, promote fiscal revenue growth, optimize the expenditure structure, and raise the fiscal self-sufficiency rate.
They should cultivate and strengthen fiscal sources and consolidate the tax foundation.
Focusing on industrial cultivation, they should build a new pattern of industrial cultivation driven by fiscal funds with participation of diversified capital.
Centering on the four key priorities of industrial development, state-owned enterprise reform, tax and fee collection and management, and consumption stimulation, they should make precise efforts to fully consolidate the foundation of local fiscal capacity and serve high-quality economic development.
They should cut non-urgent expenditures and improve the efficiency of funds.
They should resolutely implement the requirement of "tightening belts" and ensure that this requirement runs through every process and link of fiscal management, comprehensively strengthen the management of organ operating expenses, and vigorously reduce non-urgent and non-rigid expenditures.
Second, they should strengthen project management and give play to the role of special bonds in driving investment and promoting stable economic operation.
They should exercise source control and strictly review special bond projects entering the project pool.
They should strengthen research and demonstration, preliminary preparation, revenue balance, and ex-ante performance review of projects to further improve the quality of special bond projects included in the pool.
They should strengthen process supervision, dynamically grasp the progress of special bond projects, and track progress link by link.
On the one hand, they should urge special bond projects under construction to accelerate construction progress, form physical work volume as soon as possible, ensure project quality, and effectively give play to the effectiveness of bond funds.
On the other hand, they should promote the completion acceptance and operation of completed special bond projects as soon as possible so that project operating revenue can be generated at an early date.
Third, they should intensify efforts to revitalize state-owned "three assets" and expand the fiscal pie.
They should implement a campaign to revitalize the "three assets," reasonably tap revenue potential, and promote the implementation and effectiveness of projects awaiting revitalization.
They should accelerate the revitalization of real funds of budget units, existing assets of state-owned enterprises, and state-owned natural resources, optimize revitalization measures, and effectively enhance the efficiency of asset and resource use.
They should improve the efficiency of asset disposal.
They should strengthen departmental coordination and linkage, optimize approval connection processes, and, on the premise of strictly adhering to the bottom line of "preventing asset loss," improve disposal flexibility and response speed.
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