China will continue to implement a more proactive fiscal policy to support steady and sound economic development during the 15th Five-Year Plan period (2026-2030), according to economists.
The national fiscal work conference was held from Saturday to Sunday in Beijing.
The meeting has pledged to expand fiscal expenditure in 2026 to ensure a solid start to the country's 15th Five-Year Plan period.
Expenditure structures will be continuously refined, and greater synergy between fiscal and financial policies will be created, according to the meeting.
The meeting also called for stronger measures in 2026 to leverage the role of government bonds better and improve the efficiency of transfer payments.
"We will make good use of the funds from ultra-long special treasury bonds, local special bonds and central budgetary funds to enhance support for effective investment," said Bai Yanfeng, a professor at the Central University of Finance and Economics.
China will also boost fiscal investment to foster the integration of sci-tech innovation and industrial innovation, and accelerate the cultivation of new growth drivers, while improving the fund management and strengthening the leading role of enterprises in technological innovation, according to the meeting.
"Fiscal policy plays a vital role and holds values in stabilizing economic growth and optimizing economic structure. A more proactive fiscal policy, along with other measures, will help achieve steady and sound economic development during the 15th Five-Year Plan period and its start year," said Luo Zhiheng, chief economist of Yuekai Securities.
Proactive fiscal policy to support sound economic development in 2026-2030: economist
A group of Japanese gathered in Tokyo on Sunday to protest against the country's record defense budget plan and demand the government led by Prime Minister Sanae Takaichi to curb the military expansion.
Japan's draft defense budget was set at a record 9.04 trillion yen (about 58 billion U.S. dollars) for fiscal 2026, local media reported Friday.
The figure exceeds the previous record initial budget of 8.7 trillion yen for the current fiscal 2025 starting in April and is in line with Japan's defense buildup plan to allot about 43 trillion yen to defense outlays from fiscal 2023 through 2027.
The Sunday protesters held banners and chanted slogans at downtown Tokyo, urging the Japanese government to adhere to its commitment to the pacifist constitution, which renounces the nation's right to engage in war or to resort to military force to resolve international conflicts.
"We oppose the Takaichi administration's massive military buildup and its tough and belligerent rhetoric. The Liberal Democratic Party and its current coalition partner, the Japan Innovation Party, claim that expanding military buildup will bring peace. But they actually seek personal gains from the profits of the military-industrial complexes of Japan and the United States. This is wrong. They want to swiftly abolish Article 9 of the Constitution, while we must take action to protect it," said a protester.
"Germany and Italy have both reflected on World War II. Japan now has Articles 9 of the Constitution, which clearly outlaws war and prohibits Japan from sending troops to other countries. Therefore, Japan's Diet and the state must be strictly bound by the Constitution," said another protester.
A demonstrator said the Japanese government's military buildup and erroneous remarks regarding China have damaged the friendship between the two countries and indicated a worrying anti-China attitude.
"Japan's continuous increase in defense spending not only diverts funds from people's livelihood but also constitutes preparations for war. We don't want it. I am very sad about the trouble Takashi's remarks have caused to the Chinese people. But I hope that at least friendship between the people of the two countries can be maintained. If the Japanese government incites its people to oppose and criticize China, it is truly embarking on the path to war," she said.
Japanese protest against record defense budget
