In light of the arrangements and requirements of the central leadership for economic work and the new situation facing financial work, our general philosophy for formulating the budgets and arranging financial work for 2006 was as follows. We take Deng Xiaoping Theory and the important thought of Three Represents as our guide and implement the guiding principles of the Sixteenth National Congress of the Party, the Third, Fourth and Fifth Plenary Sessions of its Sixteenth Central Committee and the Central Economic Work Conference. We are guided overall by a scientific outlook on development and continue to implement a prudent fiscal policy. We work hard to increase revenue and reduce expenditures, optimize the pattern of expenditures and guarantee key expenditures. We devote a great deal of effort to deepening reform, promoting economic restructuring and transforming the pattern of economic growth to promote sustained, rapid, balanced and sound development of the economy and all-round progress of society, thus ensuring that efforts to meet the targets in the Eleventh Five-Year Guidelines get off to a good start.