High-Quality Implementation of the 14th Five-Year Plan: Maximizes Precision in Spending

On November 21, Shanxi Provincial Government Information Office held its seventh press conference, where the Shanxi Provincial Department of Finance reported on fiscal reforms and development since the 14th Five-Year Plan began. Fiscal revenue growth and total figures have outpaced expectations, reflecting solid achievements.

Chang Guohua, Director General of Shanxi Provincial Department of Finance, noted:“In the 14th Five-Year Plan, general public budget revenue exceeded 1.6 trillion yuan—an increase of about 600 billion yuan over the 13th Five-Year period. Annual growth rose from 200 billion yuan to 320 billion yuan.”

Central subsidies also grew over 30%, from 960 billion yuan during the last plan to 1.27 trillion yuan, enabling an expanded provincial expenditure.

As steward of thefinances, Shanxi Provincial Department of Finance has carefully allocated funds to projects vital to long-term development and public welfare. It launched targeted fiscal policies supporting economic growth and prioritized major initiatives.

Chang added, “We created a priority project list focusing on industry transformation, energy reform, technology innovation, and urban-rural integration. This supported key projects like the ‘A Clear Stream Flowing into the Yellow River’ ecological program, ‘Three No. 1’Tourism Highways, Jining-Datong-Taiyuan High-speed Railway, Xiongan-Xinzhou High-speed Railway, and Taiyuan Wusu Airport expansion.”

The department also boosted consumption through large-scale equipment upgrades and trade-in programs, allocating 23.1 billion yuan and benefiting over 10 million participants in sectors like automotive and appliances. Public welfare remains a top priority, with social spending expected to reach 2.4 trillion yuan—about 80% of the general public budget.

Deputy Director General Wei Zhihua highlighted science and tech investment:“Since the plan began, spending topped 35 billion yuan, with greater focus on basic research and platforms, increasing from 1.65% of the budget in 2021 to a projected 9.75% in 2024. Taiyuan’s computing center now ranks among China’s top five. Talent programs invested over 5.2 billion yuan, attracting over 6,200young researchers.”

In recent years, Shanxi’s cultural and tourism sector has become a vital driver of economic growth, backed by significant provincial investment that has transformed it from a rising prospect into a key pillar of the economy.

Wang Huibo, Deputy Director General of Shanxi Provincial Department of Finance, said, “Since the 14th Five-Year Plan began, we have invested 5.69 billion yuan to promote high-quality cultural development. This includes 185 million yuan specifically for protecting intangible cultural heritage, preserving traditional crafts and folk arts. We have also allocated 2.75 billion yuan to support the cultural and tourism industry, funding major events such as the Shanxi Cultural Expo and the Shanxi Tourism Development Conference to actively attract visitors.”

Chang Guohuaadded, “Looking ahead to the 15th Five-Year Plan, we will strengthen fiscal measures and maximize precision in spending to firmly support Shanxi’s role in advancing China-style modernization.”