China's fiscal funding will reach unprecedented levels in 2026, with Finance Minister Lan Fo'an announcing three key fiscal benchmarks during the fourth session of the 14th National People's Congress. Total government spending is projected to surpass 30 trillion yuan ($4.35 trillion) for the first time, while newly issued government bonds will total 11.89 trillion yuan – the largest issuance in recent years.
Central government transfer payments to local governments will also hit a historic 10.42 trillion yuan, marking the fourth consecutive year this figure has exceeded 10 trillion yuan. The allocations reflect China's commitment to a proactive fiscal policy designed to strengthen economic resilience amid global uncertainties.
Minister Lan emphasized that 1.3 trillion yuan has been allocated for science and technology spending this year, a 7.1% year-on-year increase. Combined investments in education, social security, healthcare, and housing support will exceed 12.4 trillion yuan, targeting critical areas for sustainable development.
"These measures balance counter-cyclical adjustments with structural optimization," Lan stated, underscoring the government's focus on directing resources toward innovation-driven growth and social welfare enhancement.
