Establishing a mechanism for managing the negative list of fiscal subsidies, with relevant documents expected to be released soon.

Reporters recently learned that relevant documents on establishing a negative list management mechanism for fiscal subsidies are expected to be released soon. The State Council executive meeting held on March 13 proposed to implement a negative list management system for local fiscal subsidies based on previous work, formulate a unified national negative list for local fiscal subsidies, and further clarify specific situations in which local governments are prohibited from implementing fiscal subsidies. Experts believe that the establishment of the above-mentioned mechanism will help promote fair competition, enhance local economic growth drivers, improve fiscal expenditure efficiency, encourage enterprises to focus on their core business, and enhance competitiveness.