China to continue implementing more proactive fiscal policy in 2026: finance ministry

China will continue to implement a more proactive fiscal policy in 2026 to sustain and bolster economic growth, according to the national fiscal work conference held in Beijing from Saturday to Sunday.

The meeting pledged to expand fiscal expenditure in 2026 to ensure a solid start to the country's 15th Five-Year Plan period (2026-2030).

The meeting called for stronger measures in 2026 to leverage the role of government bonds better and improve the efficiency of transfer payments.

Expenditure structures will be continuously refined, and greater synergy between fiscal and financial policies will be created, according to the meeting.

The meeting urged efforts to continue to provide fiscal support for trade-in programs for consumer goods to boost consumption. It will also expand effective investment, increasing funding for key areas such as new quality productive forces and talent development.

The meeting pledged to strengthen fiscal support for the deep integration of sci-tech innovation with industrial advancement to cultivate new growth engines, while promoting integrated urban-rural development and enhancing regional connectivity.

Key measures will be taken to support job creation and income growth, ensure high-quality education, enhance medical and health services, and improve the social security system.

Furthermore, the meeting urged efforts to advance the green economic transition, accelerate the building of a Beautiful China, strengthen international financial and economic exchanges and cooperation, and support the expansion of high-standard opening-up, with a particular focus on implementing island-wide special customs operations in the Hainan Free Trade Port (FTP).

China to continue implementing more proactive fiscal policy in 2026: finance ministry

China to continue implementing more proactive fiscal policy in 2026: finance ministry

China to continue implementing more proactive fiscal policy in 2026: finance ministry

China's domestically developed gas turbine Jupiter I, the world's first 30MW-class pure hydrogen gas turbine, has on Sunday achieved pure hydrogen power generation and maintained stable operation in north China's Inner Mongolia Autonomous Region, offering a key solution for renewable energy storage and utilization.

The gas turbine Jupiter I is the world's largest single-unit power pure hydrogen generator, capable of converting hydrogen from storage tanks back into electricity during peak demand periods, according to the Mingyang Group.

It has effectively solved the problem of consuming surplus electricity from new energy sources, and provides an integrated solution that is feasible and scalable for building a new energy system with new energy as the main power source. It has been selected as one of the first batch of national-level hydrogen energy pilot projects in the energy field.

"Compared with a thermal power unit of equivalent capacity, the Jupiter I pure hydrogen gas turbine reduces carbon emissions by more than 200,000 tons annually. In combined-cycle operation, it generates 48,000 kilowatt-hours of electricity per hour, which can meet the daily power needs of 5,500 households," said Wang Yongzhi, general manager of Mingyang Hydrogen Gas Turbine Technology.

The project will effectively mitigate fluctuations in renewable energy output, enhance grid regulation capabilities, provide a replicable model for energy transition practices, and contribute to building a national-level hydrogen energy demonstration zone, according to its operator.

Renewable energy installations in China account for over 50 percent of the nation's total power generation capacity. The country has pledged to peak its carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.

World's first 30MW-class pure hydrogen gas turbine put into operation