Minister of Finance: This year's fiscal fund allocation has reached new highs in three areas

LightningPacketLoss · 2026-03-22T05:55:52+00:00

Finance Minister Lan Fuan stated at the National People's Congress that this year, fiscal expenditure, government bond scale, and central-to-local transfer payments all reached record highs. Total expenditures exceeded 30 trillion yuan, new bonds reached 11.89 trillion yuan, and total transfer payments amounted to 10.42 trillion yuan, enhancing the financial support capacity of local governments.

LightningPacketLoss

2026-03-22 05:55:52

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Finance Minister Lan Fuan said at the press conference on March 6 during the Fourth Session of the 14th National People’s Congress that in terms of fiscal funding allocation, this year has set new records in three areas. First, the total expenditure reached a new high, exceeding 30 trillion yuan for the first time. Second, the scale of new government bonds issued reached a record high of 11.89 trillion yuan, the largest in recent years. Third, the central government’s transfer payments to local governments reached a new high, further strengthening local fiscal capacity. The total transfer payments from the central government to local governments amounted to 10.42 trillion yuan, exceeding 10 trillion yuan for four consecutive years. (Reporter: Shen Cheng, Zhang Xiaojie)

(Edited by: Wen Jing)

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