Transfer、Basic Public Services And Common Wealth

The Fifth Plenary Session of the 19th CPC Central Committee clearly pointed out that "one of the visionary goals for the basic realization of socialist modernization in 2035 is to make more obvious and substantial progress in promoting common wealth for all people," and at the same time emphasized "improving the redistribution mechanism by increasing the strength and precision of taxation,social security,transfer payments and other adjustments." At the same time,it emphasizes "improving the redistribution mechanism by increasing the strength and precision of taxation,social security and transfer payments," which marks the key period for China to make substantial progress in promoting common wealth.As a powerful tool of redistribution policy,the main task of fiscal transfer payments is to offset the gap between local governments’ financial resources and their spending responsibilities and achieve a balance of financial resources among governments,with a view to playing a key role in improving local economic strength and public service delivery capacity.In addition,transfer payments have the advantages of being highly targeted,effective and operative,and are highly expected in the process of achieving the goal of common wealth under the new era.In order to promote the realization of common wealth more effectively,it is important to scientifically study the current situation of common wealth in China and reasonably clarify whether fiscal transfer payments can substantially promote the improvement of common wealth.This article first compares the research results and the main consensus on the connotation and characteristics of common wealth in academic and ideological circles,and defines the relevant concepts and fully understands the connotation and characteristics of common wealth in light of the important speeches on common wealth and the strategic deployment of common wealth promotion by Party leaders.Secondly,rooted in the new development concept and the demands of the time,we construct an index system for evaluating the level of common wealth and quantify the level of common wealth of each provincial administrative unit in China using the entropy value method.Finally,we deduce and interpret the internal mechanism of the influence of transfer payments on the common affluence level from the theoretical level,and further establish a panel data model to empirically test and analyze the effect and influence mechanism of transfer payments on the common affluence level in China.The study concludes that:(1)along with the continuous promotion and accelerated construction of the socialist cause with Chinese characteristics,the common wealth level nationwide keeps increasing year by year;and the gap between the common wealth level achieved nationwide tends to decrease gradually.(2)In general,transfer payments significantly increase the common wealth level;however,general transfer payments are less incentive to increase the common wealth level compared with special transfer payments.(3)From the perspective of the function of equalizing basic public services established by the transfer payment system,the provision of basic public services of local government plays a positive role in regulating the process of increasing the level of common wealth through transfer payments,which strongly promotes the increase of the level of common wealth.(4)In addition,this paper concludes that the construction of common wealth has significant dynamic characteristics,therefore,it is particularly important to improve the transfer payment system in order to give full play to the continuous promotion of common wealth through transfer payments.The above research suggests that in the process of improving the transfer payment system,we should fully consider the distribution form of transfer payment funds and its influence mechanism on the level of common wealth,optimize the structure of public expenditure,promote the equalization of basic public services,and solidly promote the common wealth construction.