Shandong authorities have outlined major tasks for financial work in 2021, the beginning of the 14th Five-Year Plan (2021-25).

According to the Shandong province financial work video conference held on Jan 6, the province will adhere to the proactive fiscal policy to improve quality and efficiency, maintain support for economic recovery, as well as enhance financial security for major strategic tasks in Shandong.

[Photo/Sipa]

It will strengthen coordination of government resources, optimize the structure of government expenditures, and strive to improve people's livelihoods.

It will make full use of local government bonds, strengthen local government debt management, and guard against and defuse government debt risks.

It will advance reform, innovate the way government expenditures are spent, tighten budgetary constraints and performance-based management, and accelerate the establishment of a modern fiscal and taxation system so as to promote sustained and sound economic and social development.