BEIJING: China is expected to step up the efficiency of its proactive fiscal policy next year, sharpening its focus on expanding domestic demand and strengthening long-term innovation capacity.
These are priorities experts said will anchor China’s economic strategy for the 15th Five-Year Plan (2026 to 2030).
In a recent article in the People’s Daily, Finance Minister Lan Fo’an said fiscal authorities will “comprehensively expand domestic demand” and “support high-level technological self-reliance and self-strengthening”.
He added that active fiscal policy must be carried out “with greater strength and higher efficiency” to underpin the next stage of Chinese modernisation.
Analysts said Lan’s piece offers one of the clearest signals of the priorities likely to be set during the upcoming annual Central Economic Work Conference.
Lan wrote that fiscal measures will play a central role in unlocking consumption potential and increasing household income through tax and transfer-payment measures. — China Daily/ANN
