The Guangdong province implements a major move to increase local financial resources! The provincial government will allocate 76.1 billion yuan to cities and counties.

Recently, the Guangdong Provincial Department of Finance publicly disclosed the "Report on the Second Adjustment Plan of the Provincial Finance of the People's Government of Guangdong Province for 2025". This report shows that at the beginning of 2025, the general public budget revenue of the provincial level in Guangdong Province was adjusted from 315.3 billion yuan to 239.18 billion yuan, a decrease of 76.12 billion yuan compared to the initial budget. Why did the provincial level finance in Guangdong Province experience such a significant decline in revenue? This is directly related to the adjustment of the revenue sharing ratio between the provincial level and the city and county level in Guangdong this year. According to the report, in accordance with the deployment of the Guangdong Provincial Party Committee and the Provincial Government to deepen the reform of the financial system below the provincial level, the new revenue sharing ratio between the province and the city and county levels was adjusted to further increase the power of financial decentralization and increase local autonomous financial resources. Under the adjusted financial system, the revenue of the provincial level public budget decreased due to the lower revenue sharing ratio, with some revenue being retained by the city and county levels to increase their local autonomous financial resources. This is also reflected in the financial statements of cities and counties in Guangdong Province, where some cities have seen a significant increase in revenue this year.