How can fiscal policy become more proactive? Lan Fo'an: Provide sufficient funding scale and amplify policy coordination effects

** Caixin News ** In 2026, the deficit rate will remain at a historic high of around 4%. Ultra-long special bonds and local government专项 bonds will stay at high levels, and a 100 billion yuan fiscal and financial coordination fund will be launched to stimulate domestic demand. Minister of Finance Lan Fuan stated at a press conference on March 6 that in 2026, China will continue to implement a more proactive fiscal policy, reflected not only in the scale of funds and sufficient policy力度 but also in strengthening policy coordination to further amplify effects.

Lan Fuan said that in recent years, fiscal policy has always maintained an active orientation. In 2025, a more proactive fiscal policy was implemented for the first time, with macroeconomic regulation further intensified. In 2026, the tone of “more proactive” will continue, maintaining the力度 established in 2025’s overall expansion. This arrangement fully considers the profound and complex changes in the current domestic and international situation, balancing counter-cyclical and cross-cyclical regulation needs. It can effectively hedge short-term fluctuations, promote economic operation within a reasonable range, and also facilitate structural optimization and enhance economic resilience, providing solid support for a good start and a good progress in the 14th Five-Year Plan.