This year, the Shanxi Provincial Department of Finance has adhered to an active fiscal policy, strongly supporting the high-quality development of the economy in North China's Shanxi province.

From January to September, the province's general public budget revenue reached 251.35 billion yuan ($35.27 billion), with an 8.6-percent increase in the third quarter. The general public budget expenditure totaled 422.94 billion yuan, with 80 percent allocated to livelihood expenditures, amounting to 336.57 billion yuan.

The department has decentralized financial resources by transferring over 87 billion yuan to cities and counties, effectively alleviating financial pressures at the grassroots level.

Regarding policy supply, the department has utilized a portfolio of tax incentives, special bonds, and financial and fiscal policies to promote the continuous improvement of the provincial economy.

From January to August, policies supporting technological innovation and manufacturing development resulted in tax reductions, fee reductions, and refunds exceeding 17 billion yuan and secured over 12.7 billion yuan in long-term special treasury bond funds.

The department has prioritized people's well-being by allocating 86.74 billion yuan for social security and employment expenditures and 36.72 billion yuan for healthcare. The department also ensures the effective implementation of various livelihood policies by optimizing expenditure structures and enhancing fund utilization efficiency.

The department views preventing and managing government debt risks as a key priority. To mitigate risks and provide a low-risk debt environment for the province's economic and social development, it continuously improves government debt financing mechanisms.