Subsidies from superiors = general transfer payment income + special transfer payment income + rebate income

The three statistical calibers from small to large are:

For example, in Nantong City, Jiangsu Province, the municipal level includes non-standard divisions such as development zones and demonstration zones at the same level as the city, but the city level does not include these non-standard divisions.

However, the terms used in various places are not necessarily "citywide", "municipal level", and "city level". They may also use "citywide", "city level", and "municipal level". The corresponding relationship is shown in the following table:

It is worth noting that the meaning of the term "city level" is different in the two formulations. In practice, attention should be paid to the context or hook relationship for distinction.

For example, the "Report on Suqian City's 2019 Budget Implementation and 2020 Budget Draft" uses formulation 2 of the above formulations:

Each account are divided into expenses and income; the income in each account includes the portion turned over and subsidies from superiors.

The three statistical calibers have been given examples above, and are summarized as follows:

This article will use formulation 1 without explanation. But this does not mean that formulation 1 is the most standard formulation. In addition, for provinces, there are also these three distinctions. In this regard, the formulation of this article adopts a title similar to formulation 1, that is, the statistical caliber from large to small is: the whole province, the provincial level, and the provincial level.

Uniformly, this article refers to this caliber issue as: the entire province/city or the entire region, the provincial/municipal level, or the provincial/municipal level.

When looking at urban investment, local data that usually need to be used include: gross local product (i.e. GDP, the entire region), general public budget revenue (the entire region), government fund income ( (whole region), local government debt balance (whole region). Indicators that may also be used include: general public budget revenue (this level), government fund revenue (this level), local government debt balance (this level), general public budget and government fund revenue Details of superior subsidy income and general public budget expenditures (all regions). The first-hand sources of the above data are explained as follows:

The statistical announcement publishes preliminary statistics. Last year’s data is released that year. The data is released quickly. Some regions even released last year’s GDP in January. data.

The Statistical Yearbook publishes final data. Last year’s data is released that year. Data is released slowly, usually in the second half of the year.

These data basically appear in these reports:

The above reports are usually in these columns of these websites:

Since there are four accounts of fiscal revenue It also depends on whether it includes transfers and subsidies from superiors. In addition, the wording is extremely confusing, so it is necessary to determine which item the so-called fiscal revenue in the article refers to based on the context. Specifically:

From the perspective of urban investment analysis, for various types of income, the following indicators should be counted:

Generally speaking, the words with the word "total" mean the following table A or A-B+C in "A" without the word "total" means A.

For example, in the "Report on Huaibei City's 2018 Fiscal Budget Implementation and 2019 Fiscal Budget Draft", there are relevant paragraphs:

The above "City's general public *** budget" "Total income" refers to A in the whole region (see the table above). The reason is that it contains the word "total". Combined with the details listed in it, we can see that it refers to A, not A-B we want; and we The desired A-B is "local revenue" of 7.29 billion yuan. There is no word "general" here, so it is generally considered to be A-B.

Local government debt (note, this name is just these six words, and cannot be added, deleted or changed) is divided into general debt and special debt. For the study of urban investment, the most concerned is the sum of these two items. , generally do not pay attention to how much of local government debt is general debt and how much is special debt. In addition, urban investment studies usually use a regional scale and do not need to be at the provincial/municipal level or at the provincial/municipal level.

Sometimes, local financial final accounts may appear in the budget report or in the final accounts report, because in some areas, the current year’s budget report and the previous year’s final accounts report are together and need to be reported separately. Open Find. Of course, if there is a conflict between the two, the final accounting report shall prevail. Therefore, when looking for data, first look for it in the final accounts report, and if not, then look for it in the budget report.

In order to speed up the search, it is recommended to obtain economic, financial, and debt data in the following order of priority:

Generally speaking, the general situation of provincial-level and prefecture-level data The following can be found on the website of your local government or finance bureau. However, for district and county levels and non-standard administrative divisions (such as economic development zones, high-tech zones, new zones, etc.), data availability is often not strong, and in most cases data can only be obtained through secondary channels.

It is recommended to search in the following order:

This method is the fastest and more accurate. Typically appears in paragraphs about regional economics or local support. The structure of the rating report is generally: 1 to 2 pages of overview, 1 page of the issuer’s basic information, several pages of regional economy and debt, several pages of the issuer’s operations and debt situation, 1 page of summary, and several pages of appendices.

It should be noted that there may be multiple bond issuance platforms in one region, and one bond issuance platform may be rated by multiple rating companies. If you cannot find data in a certain rating report, you can change the report of a rating company or a local platform.

Of course, you can also search for provincial and prefecture-level data through the above methods.

For example, for the Lianyungang Economic Development Zone, its financial and debt data appear in the "2019 Final Accounts Report of Lianyungang City, Jiangsu Province":

This is a poor strategy, and comprehensive information is usually not obtained information.

If the non-standard administrative division is relatively standardized, it is likely to have a style similar to the official website of the standard administrative division. If this is not the case, then look for local introductory columns, such as Entering XX, Understanding XX, etc.