On this day, 73 years ago, on August 6, 1952 (June 16, 1952, the lunar calendar), New China's finances achieved balance of payments for the first time. On August 6, 1952, the 16th meeting of the Central People's Government Committee heard and approved the Report on the Implementation of the State Budget for 1951 and the Draft State Budget for 1952 made by Minister Bo Yibo of the Ministry of Finance, and adopted the budget for state revenue and expenditure for 1952. According to the report, the budget revenue and expenditure in 1952 were both 15.88 billion yuan. Compared with the actual situation in 1951, the revenue increased by 41.7% and the expenditure increased by 55.5%. This is the first year of fiscal balance since the founding of the People's Republic of China when China's state budget was compiled. The balance of payments, economic recovery, and price stability mark that China's fiscal and economic situation has fundamentally improved. Mao Zedong's instructions in his report to the Third Plenary Session of the Seventh Central Committee of the Communist Party of China on June 6, 1950 have been completed ahead of schedule. It takes three years or more to achieve "a fundamental improvement in the country's overall fiscal and economic situation."