China Plans Stronger Fiscal Policy for the Next Five Years

Post by : Saif

China has announced that it will follow a stronger fiscal policy over the next five years. Finance Minister Lan Foan shared this plan during an interview with Xinhua News Agency on Saturday. His message shows that China wants to protect its economy at a time when the world is becoming more unstable and global competition is increasing.

Lan Foan explained that the government will use fiscal tools more actively. This means China will carefully decide how much money the government should spend and how much it should borrow. The goal is to keep the economy stable and avoid sudden shocks. He also said the deficit-to-GDP ratio and government borrowing levels will be set based on the country’s changing needs.

China plans to use many tools to support growth, such as the national budget, taxes, government bonds and transfer payments. These tools will help the country support important areas like industry, technology, education and social security. The minister said that China will continue to give long-term help to these areas so the country can grow in a steady and strong way.

Lan also said that the outside world has become more uncertain. He explained that the global environment is volatile and that competition between major countries is getting more complex and tense. He did not name any country directly, but this situation reflects the ongoing trade and technology tensions between China and the United States.

China will give more support to modern industries, science and technology, education and social security. These areas will help China build a stronger foundation for future development. By investing more in them, China hopes to keep its growth stable and prepare for long-term progress.

The finance minister also said that fiscal subsidies will be used to help people spend more on goods and services. When people buy more, the economy grows faster, so the government wants to encourage higher consumption. This is an important part of China’s plan to boost domestic demand.

China will also make better use of local government special-purpose bonds and ultra-long special treasury bonds. These bonds help pay for major public projects like roads, bridges and energy systems. The minister said the government will improve how it chooses investment projects so the money is used in the most effective way.

China’s message shows that the government is preparing for a period of slow and steady adjustment. The next few years may be challenging, but China wants to make sure its economy stays strong and can handle global pressure. By strengthening fiscal policy, China hopes to protect jobs, support key industries and keep growth stable. The finance minister’s comments make it clear that China wants to stay active in shaping its economic future.

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