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author | first financial daily chen yikan

as the contradiction between local fiscal revenue and expenditure increases, many places have stepped up efforts to mobilize existing assets and resources to increase revenue.

for example, in the 2023 work report of the chongqing development and reform commission disclosed on the official website of the chongqing people's congress at the end of june this year, it was proposed to work with relevant municipal departments to formulate a plan to "sell everything" to revitalize and monetize assets and resources.

the budget report of shapingba district, chongqing this year pointed out that in 2023, the local government will carry out in-depth special operations of "smashing pots and selling iron" and "cutting off the arm of a strong man" for asset disposal, dig deep into existing asset resources, and effectively revitalize state-owned housing assets, equity debts, land resources, etc. actively connect with professional asset management companies and municipal state-owned enterprises, broaden the path of asset revitalization, implement 102 asset disposals, realize 940 million yuan, and complete 6 equity transfers and pledges for an amount of 790 million yuan. reasonably adjust the planning use and development intensity of idle and inefficient land, enrich land functions, and improve land benefits. increase the frequency of land transfer scheduling, break through the difficulties, bottlenecks, and card points in each link, steadily promote the revitalization and realization of land resources, and realize land transfer income of 1.01 billion yuan.

this year, chongqing has also stepped up efforts to revitalize its stock assets. for example, data from the chongqing stock exchange group showed that from january to june, 11,341 state-owned enterprise stock assets were listed, a year-on-year increase of 96.6%, and the newly listed amount was 13.139 billion yuan, a year-on-year increase of 28.3%. at the same time, the number and amount of transactions also continued to grow, with 2,382 different types of stock asset projects effectively revitalized, a year-on-year increase of 9.4%, and a transaction amount of 4.272 billion yuan, a year-on-year increase of 32.9%.

the revitalization of existing assets and resources will bring about increased fiscal revenue, which is reflected in non-tax revenue (especially the income from the paid use of state-owned resource assets) and state-owned capital operation income.

for example, data from the chongqing municipal finance bureau shows that chongqing's non-tax revenue in 2023 reached 96.47 billion yuan, an increase of 15.9%. among them, the income from the paid use of state-owned resource assets in non-tax revenue was about 61.8 billion yuan, a year-on-year increase of 25.3%. in the first seven months of 2024, chongqing's non-tax revenue reached 58.41 billion yuan, an increase of 27.6%.

against the backdrop of sluggish tax growth and a significant decline in local government land sales revenue, many places have stepped up efforts this year to revitalize existing asset resources, leading to faster growth in non-tax revenue.

for example, data from the jilin provincial department of finance showed that from january to july, the province's non-tax revenue was 24.76 billion yuan, a year-on-year increase of 29.5%. among them, the income from the paid use of state-owned resources (assets) was 10.87 billion yuan, an increase of 53.7%, mainly driven by the increased disposal of resources and assets in various places.

data from the heilongjiang provincial department of finance showed that in the first half of this year, local non-tax revenue reached 29.8 billion yuan, an increase of 9.9%. from the perspective of non-tax revenue, the income from the paid use of state-owned resources (assets) increased by 11.3%, mainly driven by the increased efforts of local governments to deal with resources and assets.

data from the jiangxi provincial department of finance showed that local non-tax revenue in the first half of this year reached 70.87 billion yuan, an increase of 9.4%. this was mainly due to the active utilization of resource assets by various regions, which led to a significant increase in revenue from the paid use of state-owned resource assets.

on august 26, the ministry of finance released data showing that in the first seven months of this year, the national non-tax revenue was 2.4423 trillion yuan, a year-on-year increase of 12%.

of course, in order to prevent some places from falsely activating assets and thus inflating revenues, some local auditors have also increased their supervision efforts.

for example, in march this year, the audit bureau of nan'an district, chongqing city, conducted a pre-audit investigation on the quality and efficiency of jiulongpo district's fiscal operations and the status of industrial park reform. the audit bureau focused on the progress of the work of "selling all the iron and steel" to revitalize assets, and paid special attention to the revitalization of new (existing) parking spaces, garbage disposal sites and other assets. it conducted in-depth on-site verification of the number of assets, asset status, asset operations, etc., to ensure that fiscal revenue was real and high-quality and efficient.