Twenty-six years ago today, on September 5, 1999 (July 26, 1999), the Party Central Committee and the State Council decided to increase the income of urban low- and middle-income residents. On September 5, 1999, in order to promote household consumption, expand domestic effective demand, and stimulate economic growth, the Party Central Committee and the State Council decided to adjust the income policy for urban low- and middle-income residents. The main contents of this adjustment of the income policy for low- and middle-income urban residents include: starting from July 1, 1999, the basic living expenses of laid-off workers in state-owned enterprises, the level of unemployment insurance benefits, and the minimum living security level for urban residents will be increased by 30%; increasing the wages of in-service employees in government organs and institutions and the retirement fees for retirees; raising the pension standards for enterprise retirees; one-time reissue of pensions in the overall planning project for enterprise retirees that were in arrears before the end of June 1999; raising the pension standards for some special care objects, etc. It is reported that the above policy adjustment, local governments can determine their own specific implementation standards within the scope of policies stipulated by the state, depending on their financial situation. The central government has decided that seven coastal economically developed provinces and cities, including Beijing, Shanghai, Jiangsu, Zhejiang, Fujian, Shandong and Guangdong, will solve their 11.20 billion yuan of increased expenditure on their own, and 84% of the new expenditure in the other 24 regions will be subsidized by the central government. The Ministry of Finance requires financial departments at all levels to actively work with relevant units to start from the overall situation of reform, development and stability, and ensure that wages, pensions and related subsidies will be distributed to relevant personnel according to the increased standards before mid-September.