The 9th Asian Winter Games, which concluded on Friday in the renowned "ice city" of Harbin in northeast China's Heilongjiang Province, drew a record-breaking 1,222 athletes from 34 countries and regions, making it the largest edition of the event in history, according to a press conference on Friday.
Members of the Olympic Council of Asia (OCA) and Harbin Asian Winter Games Organizing Committee held the press conference to recap the overall success of the Games, highlighting key accomplishments and milestones.
With over 180 competitions in 64 ice and snow events, this edition of the Games was the most comprehensive to date. The addition of Saudi Arabia and Cambodia to the roster of participating countries marked a major breakthrough, broadening the Asian Winter Games' scope and reinforcing its position as a premier international sporting event, according to officials.
Meanwhile, a total of 110,000 spectators attended the events during the Games, immersing themselves in the excitement and energy of winter sports.
"We focused on creating a professional and fair competition environment. The venues were fully prepared, material and equipment support was sufficient, and the competition organization was orderly and efficient. This has been widely praised by athletes, technical officials, team officials, and media reporters from various countries and regions. During the Games, athletes from various countries and regions worked hard and aimed for excellence. They not only achieved excellent results, but also embodied the spirit of fair competition and aimed for new heights. They gained friendship and cultural resonance, demonstrating the Olympic motto of 'Faster, Higher, Stronger - Together,'" said Zhang Haihua, deputy secretary-general of the organizing committee and vice mayor of Harbin.
Officials from the OCA reiterated that the 2025 Harbin Asian Winter Games have set a high standard in terms of preparation, medical services, and volunteer engagement. "Everybody, not only Asia, everywhere, will see the athletes in participation, but also see a beautiful city of Harbin. I'm sure that Harbin has already set the standard, a template, what successful Games [are] about," said Timothy Tsun Ting Fok, first vice president of the OCA.
Harbin Asian Winter Games draw record-breaking 1,222 athletes: officials
China will strengthen fiscal and financial coordination to amplify policy effectiveness, experts said as the draft central and local budgets for 2026 were unveiled on Friday at the ongoing fourth session of the 14th National People's Congress.
According to the draft central and local budgets for 2026, 1.3 trillion yuan (190 billion U.S. dollars) of ultra-long special treasury bonds will be issued to provide continued support for the implementation of major national strategies and security capacity-building in key areas and for large-scale equipment upgrades and consumer goods trade-in programs.
Ultra-long special treasury bonds totaling 800 billion yuan will be allocated to support the implementation of major national strategies and security capacity-building in key areas, and 250 billion yuan in ultra-long special treasury bonds will be earmarked for consumer goods trade-in programs.
The country will refine these programs in terms of their scope and subsidy standards, and continue to support the scrapping and replacement of automobiles, home appliance trade-in schemes, and purchases of new digital and smart products.
China will also set up a 100-billion-yuan fiscal-financial coordination fund to boost domestic demand. The fund will support consumption and private investment through loan interest subsidies, financing guarantee, and risk compensation.
"Fiscal and monetary policies are the two major macroeconomic tools for macro-control, and their coordination is crucial. For instance, fiscal funds primarily serve as a guiding role, while financial institutions provide the capital. When fiscal guidance and financial resources are combined, the synergistic effect creates a result greater than the sum of its parts," said Yang Zhiyong, director of the Chinese Academy of Fiscal Sciences.
"By leveraging interest subsidies, we can mobilize substantial credit from financial institutions, thereby naturally stimulating consumption. The Ministry of Finance, in collaboration with the People's Bank of China, has introduced highly innovative measures, such as providing guarantees for the issuance of corporate bonds by small and medium-sized enterprises (SMEs), and compensating investors for losses. I believe the leveraging effect, making minimal efforts for maximum results, will become even more potent," said Yao Dongmin, director of the Center for China Fiscal Development under the Central University of Finance and Economics.
China's top legislature opened its annual session on Thursday morning at the Great Hall of the People in Beijing, with Chinese President Xi Jinping and other Party and state leaders attending the opening meeting alongside more than 2,700 NPC deputies. This year's NPC session is scheduled to run till March 12.
China to strengthen fiscal, financial coordination to amplify policy effectiveness: experts
