China's more proactive fiscal policy will continue to take effect and deliver tangible results in the second half of the year, a senior Ministry of Finance official said at a State Council Information Office press conference in Beijing on Friday.
Vice Minister of Finance Liao Min said China has continuously enhanced the efficacy of its fiscal macro-regulation over the past five years, further demonstrating the role of public finance as a foundational and vital pillar of national governance.
From 2021 to 2025, national general public budget revenue totaled 106 trillion yuan, while expenditures reached 135 trillion yuan, both representing substantial increases compared to the 13th Five-Year Plan period (2016-2020).
"Since the beginning of this year, the Ministry of Finance has firmly implemented a more proactive fiscal policy. The budgeted fiscal expenditure for this year has exceeded 30 trillion yuan for the first time. The scale of newly issued government bonds has reached 11.89 trillion yuan, representing the largest effort in history. Central government transfer payments to local governments have exceeded 10 trillion yuan for the fourth consecutive year, reaching 10.42 trillion yuan," said Liao.
Moreover, China has continuously intensified efforts to safeguard and improve people's livelihoods this year. The national general public budget has allocated 12.4 trillion yuan for education, social security, healthcare, housing, and other areas, an increase of 5.4 percent over the previous year, which is one percentage point higher than the growth rate of total national general public budget expenditures.
Throughout the year, more than 44 million people are expected to receive basic living assistance, including subsistence allowances and support for individuals facing extreme difficulties.
Support and services for the elderly and children have become more robust. This year, dedicated funds have been arranged to support free influenza vaccinations for rural residents aged 65 and above.
More than 25 million infants and their families received parenting subsidies in 2026, while about 24 million kindergarten children benefited from waived tuition and nursery fees for their final year of preschool.
In the second half of the year, fiscal policy will continue to deliver results by accelerating the use of funds, intensifying efforts to expand domestic demand, and strengthening fiscal reform and management.
"In addition, regarding incremental policies, in the second half of the year, based on the operating conditions of the macroeconomy, the Ministry of Finance will promptly plan and introduce practical and effective incremental policies to provide strong support for achieving an effective improvement in the quality of the economy and reasonable growth in its quantity," said Liao.
China's more proactive fiscal policy to continue delivering results in second half of 2026
Chinese Foreign Minister Wang Yi on Friday called on China and Indonesia to strengthen all-round cooperation and pool greater development synergy to jointly tackle risks and challenges.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks while co-chairing the first Conference of China-Indonesia Comprehensive Strategic Dialogue Mechanism with Indonesian Foreign Minister Sugiono in Jakarta.
Noting that the current international situation is marked by growing turbulence and uncertainty, with unilateralism and hegemonic practices seriously impacting global security and development, Wang said it is timely for China and Indonesia, as major developing countries, to strengthen strategic communication and deepen strategic cooperation, which carries important and far-reaching significance beyond bilateral relations.
Wang said China has always placed Indonesia in an important position in its diplomacy, particularly its neighborhood diplomacy, and is ready to work with Indonesia to enhance mutual understanding and support.
Stressing that the conference marks an important milestone in bilateral relations, Sugiono said China's development has brought enormous opportunities to the world, particularly neighboring countries such as Indonesia.
He said Indonesia and China share closely intertwined interests and stressed the importance of strengthening coordination with China for mutual benefit as Indonesia advances its development strategies.
Sugiono added that Indonesia firmly adheres to the one-China policy and supports China's cause of reunification.
The two sides also agreed to uphold strategic autonomy and firmly support each other's core interests. They also decided to launch the formulation of the China-Indonesia Five-year Action Plan (2027-2031).
Both sides agreed that deepening cooperation in energy and mineral resources serves their common interests, and expressed readiness to jointly build a comprehensive, open and green partnership in energy and mineral resources.
Indonesia spoke highly of the contributions made by Chinese companies to local development, noting that the success of Chinese companies is also a success for Indonesia. It expressed readiness to provide Chinese companies with a fair, transparent and friendly business environment.
The two sides also pledged to expand cooperation in areas such as artificial intelligence and poverty reduction. They agreed to restart cooperation in fishing, accelerate maritime cooperation and push forward joint development.
They agreed to fully and effectively implement the Declaration on the Conduct of Parties in the South China Sea and work toward the early conclusion of the Code of Conduct in the South China Sea.
Both sides agreed to hold the second meeting of the dialogue mechanism in China next year.
Chinese FM calls for stronger all-round cooperation with Indonesia to tackle risks, challenges
