财政政策如何继续“更加积极”——解读2026年财政工作新看点

Core Viewpoint - The central economic work conference emphasizes the continuation of a more proactive fiscal policy in 2026, focusing on expanding fiscal expenditure and enhancing the efficiency of fund utilization [1][3]. Group 1: Fiscal Policy Achievements in 2025 - In 2025, fiscal departments effectively implemented the central government's decisions, achieving significant results in fiscal work, which played a crucial role in meeting economic and social development goals [2]. - The fiscal policy demonstrated dual advantages of expanding total demand and directing structural adjustments, with a focus on high-quality development and increased investment in basic research [2]. - A total of 16.9 billion yuan was allocated to support the implementation of consumption upgrades, contributing to a 5.5% year-on-year growth in retail sales in Sichuan province [2]. Group 2: Key Focus Areas for 2026 - The fiscal policy will prioritize six key areas, including supporting domestic demand, fostering technological and industrial innovation, and promoting urban-rural integration [3][4]. - There will be a strong emphasis on boosting consumption through targeted actions and increasing effective investment in key sectors [3]. - The fiscal strategy aims to enhance social welfare, improve education and healthcare services, and strengthen the social security system to meet public needs [4]. Group 3: Strengthening Fiscal Management - The conference highlighted the need for comprehensive fiscal management to drive high-quality fiscal development, emphasizing the importance of both top-down and bottom-up approaches [5][6]. - There will be a focus on risk management, particularly in addressing hidden debt risks and ensuring compliance with fiscal responsibilities [5]. - The fiscal reform will include improving asset management and enhancing financial supervision to effectively address issues [6].