「Part 8」2025政府工作报告中英文对照注释版

LearnAndRecord2025年03月25日约 13 分钟

此报告以本次大会最后审议通过并由新华社公布的文本为准。The official version of this report will be released by Xinhua News Agency.

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实施更加积极的财政政策。

We should adopt a more proactive fiscal policy.

注：

实施更加积极的财政政策

adopt a more proactive fiscal policy

实施积极的财政政策

implement a proactive fiscal policy

「类似表述对比」

2024年报告Part 7：强化宏观政策逆周期和跨周期调节，继续实施积极的财政政策和稳健的货币政策，加强政策工具创新和协调配合。We should intensify counter- and cross-cyclical adjustments through macro policies, continue to implement a proactive fiscal policy and a prudent monetary policy, and strengthen coordination between policy instruments while developing new ones.

统筹安排收入、债券等各类财政资金，确保财政政策持续用力、更加给力。

We will make good use of revenues, bonds, and other fiscal funds to ensure that fiscal policies provide sustained and more effective support.

注：

收入、债券等各类财政资金

revenues, bonds, and other fiscal funds

统筹安排-->充分利用

make good use of

持续用力、更加给力

provide sustained and more effective support

财政政策

fiscal policies

今年赤字率拟按4%左右安排、比上年提高1个百分点，

We have set the deficit-to-GDP ratio for this year at around 4 percent, an increase of one percentage point over last year.

注：

赤字率

the deficit-to-GDP ratio

📍财政赤字率是指财政支出超过财政收入的部分的所占比例，意味着“花”的钱超过了“挣”到的钱。赤字率=（政府开支-政府收入）/GDP×100%

赤字规模5.66万亿元、比上年增加1.6万亿元。

The government deficit is set at 5.66 trillion yuan, an increase of 1.6 trillion yuan over last year's budget figure.

注：

[财政]赤字（规模）

the government deficit

「类似表述对比」

2024年报告Part 7：赤字率拟按3%安排，赤字规模4.06万亿元，比上年年初预算增加1800亿元。We have set the deficit-to-GDP ratio for this year at 3 percent and the government deficit at 4.06 trillion yuan, an increase of 180 billion yuan over the 2023 budget figure.

一般公共预算支出规模29.7万亿元、比上年增加1.2万亿元。

Expenditure in the general public budget is projected to reach 29.7 trillion yuan, an increase of 1.2 trillion yuan over last year.

注：

一般公共预算支出（规模）

expenditure in the general public budget / general public expenditures in the government budget

「类似表述对比」

2024年报告Part 7：预计今年财政收入继续恢复增长，加上调入资金等，一般公共预算支出规模28.5万亿元、比上年增加1.1万亿元。 It is projected that fiscal revenue will continue to grow in 2024 and we will also have funds transferred from other sources; on this basis, general public expenditures in the government budget are projected to reach 28.5 trillion yuan, an increase of 1.1 trillion yuan over last year.

拟发行超长期特别国债1.3万亿元、比上年增加3000亿元。拟发行特别国债5000亿元，支持国有大型商业银行补充资本。

A total of 1.3 trillion yuan of ultra-long special treasury bonds will be issued, 300 billion yuan more than last year, and 500 billion yuan of special treasury bonds will be issued to support large state-owned commercial banks in replenishing capital.

注：

超长期特别国债

ultra-long special treasury bonds

特别国债

special treasury bonds

国有大型商业银行

large state-owned commercial banks

补充资本

replenish capital

📍超长期特别国债，“超长期”指的是期限。一般认为发行期限在10年以上的利率债为“超长期债券”。“特别”指的是资金用途，为特定目标发行的、具有明确用途的国债，资金需要专款专用。“国债”是国家为了筹集财政资金而发行的一种政府债券，具有最高的信用度，被公认为是最安全的投资工具。

📍比上年增加……

an increase of …… over last year / …… more than last year

拟安排地方政府专项债券4.4万亿元、比上年增加5000亿元，

This year, 4.4 trillion yuan of local government special-purpose bonds will be issued, an increase of 500 billion yuan over last year.

注：

地方政府专项债券

local government special-purpose bonds / special-purpose bonds for local governments

「类似表述对比」

2024年报告Part 7：拟安排地方政府专项债券3.9万亿元、比上年增加1000亿元。This year, 3.9 trillion yuan of special-purpose bonds for local governments will be issued, an increase of 100 billion yuan over last year.

重点用于投资建设、土地收储和收购存量商品房、消化地方政府拖欠企业账款等。

The funds raised from these special-purpose bonds will be mainly used for construction investment, land acquisition and reserve, purchase of commodity housing stock, and settlement of overdue payments owed by local governments to enterprises.

注：

投资建设

construction investment

土地收储

land acquisition and reserve

收购存量商品房

purchase of commodity housing stock

消化地方政府拖欠企业账款

settlement of overdue payments owed by local governments to enterprises

今年合计新增政府债务总规模11.86万亿元、比上年增加2.9万亿元，财政支出强度明显加大。

This year, new government debt will total 11.86 trillion yuan, an increase of 2.9 trillion yuan over last year, enabling a notably higher level of spending.

注：

新增政府债务

new government debt

财政支出强度明显加大

(enable) a notably higher level of spending

要加快各项资金下达拨付，尽快形成实际支出。

Various funds will be allocated more quickly to local governments to ensure that actual spending begins as soon as possible.

注：

实际支出

actual spending

尽快形成实际支出-->尽可能快地启动实际支出

actual spending begins as soon as possible

持续优化支出结构，更加注重惠民生、促消费、增后劲，切实提高资金使用效益。

We will continue to improve the spending structure, with greater priority given to improving the people's wellbeing, boosting consumption, and making growth more sustainable, and we will see that funds are used more effectively.

注：

优化支出结构

improve the spending structure

惠民生

improve the people's wellbeing

促消费

boost consumption

增后劲

make growth more sustainable

提高资金使用效益-->更加有效地使用资金

funds are used more effectively

中央财政加大对地方一般性转移支付力度，向困难地区和欠发达地区倾斜。

The central government will increase general transfer payments to local governments and provide more support to localities facing economic difficulty and underdeveloped areas.

注：

地方一般性转移支付

general transfer payments to local governments

（经济）困难地区

localities facing economic difficulty

欠发达地区

underdeveloped areas

「类似表述对比」

2024年报告Part 7：中央财政加大对地方均衡性转移支付力度、适当向困难地区倾斜，The central government will increase transfer payments to local governments for ensuring equal access to basic public services, which will appropriately tilt toward regions facing economic difficulty.

2023年政府工作报告 Part 2：为有力支持减税降费政策落实，中央对地方转移支付大幅增加。To ensure implementation of tax and fee reduction policies, the central government significantly increased transfer payments to local governments.

2023年报告Part 5：推动财力下沉，中央一般公共预算支出中对地方转移支付占比提高到70%左右，We channeled more financial resources toward lower levels of government, with the share of transfer payments to local governments rising to about 70 percent of central government expenditures.

严格落实分级保障责任，筑牢兜实基层“三保”底线。

We will see to it that governments at all levels fulfill their respective responsibilities and that, at the primary level, basic living needs are met, salaries are paid, and governments function normally.

注：

分级保障责任-->各级政府履行各自职责

governments at all levels fulfill their respective responsibilities

“三保”

basic living needs are met, salaries are paid, and governments function smoothly / normally

📍三保，指的是保基本民生、保工资、保运转支出。

「类似表述对比」

2024年报告Part 7：省级政府要推动财力下沉，兜牢基层“三保”底线。Governments at the provincial level, meanwhile, should allocate more fiscal resources to lower-level governments to see that, at the primary level, basic living needs are met, salaries are paid, and governments function smoothly.

2023年报告Part 17：做好基层“三保”工作。We should see that at the primary level, basic living needs are met, salary payments are ensured, and normal government functioning is maintained.

坚持政府过紧日子，推进财政科学管理，严肃财经纪律，严禁铺张浪费，腾出更多资金用于发展所需、民生所盼。

We in government will continue to keep our belts tightened, exercise sound fiscal management, maintain strict financial and economic discipline, and prohibit wasteful spending, so as to free up more funds to support development and meet people's expectations for a better life.

注：

过紧日子

keep our/their belts tightened

推进财政科学管理-->实行健全的财政管理

exercise sound fiscal management

严肃财经纪律

maintain strict financial and economic discipline

严禁铺张浪费

prohibit wasteful spending

腾出更多资金

free up more funds

[用于]发展所需-->支持发展

support development

[用于]民生所盼-->满足人们对美好生活的期望

meet people's expectations for a better life

实施适度宽松的货币政策。

We should apply an appropriately accommodative monetary policy.

注：

适度宽松的

appropriately accommodative

货币政策

monetary policy

发挥好货币政策工具的总量和结构双重功能，适时降准降息，保持流动性充裕，

We will fully leverage the role of monetary policy instruments in adjusting both the monetary aggregate and structure, make timely cuts to required reserve ratios and interest rates, and maintain adequate liquidity.

注：

货币政策工具

monetary policy instruments

降准降息

cuts to required reserve ratios and interest rates

存款准备金率

required reserve ratios

保持流动性充裕

maintain adequate liquidity

📍货币政策工具的总量功能，是指中央银行通过货币政策工具的使用，从总量上保持流动性充裕，降低社会融资成本。货币政策工具的结构功能，是指中央银行通过货币政策工具的使用，从结构上更好满足经济结构转型和产业升级对资金的需求。货币政策工具作为中央银行为达到货币政策目标而采取的手段，通过发挥总量功能和结构功能，最终对经济运行产生影响。

📍降准，全称为中央银行调低法定存款准备率。降准是央行货币政策之一。央行降低法定存款准备金率（required reserve ratios），影响银行可贷资金数量从而增大信贷规模，提高货币供应量，释放流动性，刺激经济增长。

「类似表述对比」

2024年报告Part 3：两次降低存款准备金率、两次下调政策利率，科技创新、先进制造、普惠小微、绿色发展等贷款大幅增长。Required reserve ratios and policy interest rates were lowered two times, and there was a significant increase in loans issued to support scientific and technological innovation, advanced manufacturing, micro and small businesses, and green development initiatives.

2020年报告Part 7：综合运用降准降息、再贷款等手段，引导广义货币供应量和社会融资规模增速明显高于去年。We will use a variety of tools such as required reserve ratio reductions, interest rate cuts, and re-lending to enable M2 money supply and aggregate financing to grow at notably higher rates than last year.

2019年报告Part 11：加大对中小银行定向降准力度，More targeted cuts will be made to required reserve ratios for medium and small banks; 适时运用存款准备金率、利率等数量和价格手段，and employ as needed a combination of quantitative and pricing approaches, like required reserve ratios and interest rates,

使社会融资规模、货币供应量增长同经济增长、价格总水平预期目标相匹配。

This will ensure that increases in aggregate financing and money supply are in step with projected economic growth and CPI levels.

注：

（社会）融资规模

aggregate financing

货币供应（量）

money supply

同……相匹配

be in step with

优化和创新结构性货币政策工具，更大力度促进楼市股市健康发展，加大对科技创新、绿色发展、提振消费以及民营、小微企业等的支持。

We will refine and develop new structural monetary policy instruments to provide stronger support for sound development of the real estate sector and the stock market, for scientific and technological innovation, green development, the boosting of consumption, and for private businesses and micro and small enterprises.

注：

结构性货币政策工具

structural monetary policy instruments

优化和创新

refine and develop new …

更大力度促进-->提供更强有力的支持

provide stronger support for

楼市股市

the real estate sector and the stock market

健康发展

sound development

科技创新

technological innovation

绿色发展

green development

提振消费

the boosting of consumption

民营企业

private businesses

小微企业

micro and small enterprises

进一步疏通货币政策传导渠道，完善利率形成和传导机制，

We will further broaden the channels for monetary policy transmission and improve the mechanisms for setting and transmitting interest rates.

注：

疏通货币政策传导渠道

broaden the channels for monetary policy transmission

利率形成和传导机制

the mechanisms for setting and transmitting interest rates

落实无还本续贷政策，强化融资增信和风险分担等支持措施。

We will implement the policy on granting loan renewals without full repayment of the principal and introduce more supportive measures for credit enhancement, risk sharing, and other matters.

注：

无还本续贷政策

the policy on granting loan renewals without full repayment of the principal

（融资）增信

credit enhancement

风险分担

risk sharing

「类似表述对比」

2020年报告Part 9：鼓励银行大幅增加小微企业信用贷、首贷、无还本续贷。We will encourage banks to substantially increase credit loans, first-time loans, and loan renewals without repayment of principal for micro and small businesses.

📍无还本续贷其实质就是“借新还旧”。

推动社会综合融资成本下降，提升金融服务可获得性和便利度。

We will work to reduce overall financing costs and make financial services more accessible and convenient.

注：

（社会）综合融资成本

overall financing costs

提升……可获得性和便利度

make … more accessible and convenient

金融服务

financial services

保持人民币汇率在合理均衡水平上的基本稳定。

The RMB exchange rate will be kept generally stable at an adaptive, balanced level.

注：

人民币汇率

the RMB exchange rate

在合理均衡水平上

at an adaptive, balanced level

「类似表述对比」

2024年报告Part 7：保持人民币汇率在合理均衡水平上的基本稳定。The RMB exchange rate should remain generally stable at an adaptive, balanced level.

2023年报告Part 6：人民币汇率在合理均衡水平上弹性增强、保持基本稳定。We saw that the RMB exchange rate floated with greater flexibility at an adaptive, balanced level while remaining generally stable.

拓展中央银行宏观审慎与金融稳定功能，创新金融工具，维护金融市场稳定。

We will expand the role of the People's Bank of China in practicing macro-prudential management and stabilizing the financial sector and create new financial instruments to keep the financial market stable.

注：

中央银行

the People's Bank of China

（践行）宏观审慎（管理）

practicing macro-prudential management

金融稳定（稳定金融业）

stabilizing the financial sector

创新金融工具

create new financial instruments

维护金融市场稳定

keep the financial market stable

📍中国的中央银行为中国人民银行，简称央行。