China's finance minister pledges expanding fiscal spending in 2026

BEIJING -- China's finance ministry has pledged to expand fiscal expenditure in 2026 to ensure a solid start to the country's 15th Five-Year Plan period (2026-30).

China will implement a more proactive fiscal policy next year, Finance Minister Lan Fo'an said at the national fiscal work conference held from Saturday to Sunday. This stance aligns with the announcements made at the recent tone-setting Central Economic Work Conference.

The meeting called for stronger measures in 2026 to leverage the role of government bonds better and improve the efficiency of transfer payments.

Expenditure structures will be continuously refined, and greater synergy between fiscal and financial policies will be created, according to the meeting.

The ministry will continue to provide fiscal support for trade-in programs for consumer goods to boost consumption. It will also expand effective investment, increasing funding for key areas such as new quality productive forces and talent development.

Lan underscored that fiscal measures will support job creation and income growth, ensure high-quality education, enhance medical and health services, and improve the social security system.

He also called for accelerating efforts to resolve risks stemming from existing hidden debts and for strictly curbing new increases.