Recent regional governments have implemented a salary increase for government officials for the first time since the pandemic, with a comprehensive policy analysis as follows:
**1. Adjustment Scope**: This salary adjustment is expected to be the largest in the past 10 years, with a comprehensive increase of approximately RMB 500 per month per person, and the interval between adjustments is the longest, reaching 3.5 years.
**2. Specific Magnitude**: There are approximately 44 million in-service government officials and 15 million retired cadres, with a combined beneficiary population of approximately 60 million people. The additional financial expenditure is expected to be RMB 360 billion per year (included in the public budget).
**3. Short-term Impact**: If the salary is paid out before the Chinese New Year, an additional RMB 210 billion in household income will be generated, accounting for approximately 5.9% of social consumption during the Chinese New Year period and 2.59% of total social consumption in January and February, with a significant positive impact on consumption.