2. Promote economic development: the central transfer payment funds can be used to support local governments to carry out economic construction projects such as infrastructure construction, industrial development, innovation and entrepreneurship, promote local economic development and increase employment opportunities.
3. Promote ecological environmental protection: the central transfer payment funds can be used to support local ecological environmental protection work such as soil and water conservation, ecological restoration and environmental management, improve local environmental quality and protect ecological resources.
4. Promote the construction of livelihood projects: the central transfer payment funds can be used to support local governments to carry out livelihood projects such as housing security, urban and rural community construction and services for the disabled, so as to improve people's living standards and promote social harmony and stability.
What does central transfer payment mean?
Central transfer payment means that the central government transfers a part of fiscal revenue to local governments in different ways to support local economic and social development and public service construction. It is an important part of the financial relationship between the central and local governments, and it is also an important means to divide the responsibilities between the central and local governments. The sources of funds for central transfer payment mainly include fiscal revenue in the central budget and operating income of central state-owned capital.