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 to support economic growth and development in 2025 [1][2]. Group 1: Fiscal Policy Achievements - In 2025, fiscal departments at all levels are expected to implement the decisions of the Central Committee and the State Council, achieving significant results in fiscal work that support the overall economic and social development goals [2][3]. - The fiscal policy has been more proactive this year, effectively addressing major issues and ensuring strong support for stable economic development [3]. Group 2: Future Fiscal Policy Directions - The government plans to expand the fiscal expenditure framework, ensuring necessary spending while optimizing the combination of government bond tools to enhance their effectiveness [4]. - Key tasks for next year include focusing on domestic demand, supporting the integration of technological and industrial innovation, and promoting urban-rural integration and regional collaboration [4][5]. Group 3: Consumer and Investment Support - The fiscal policy will aim to boost consumption through special actions and funding for initiatives like trade-in programs for consumer goods [5]. - There will be an emphasis on effective investment in key areas such as new productive forces and comprehensive human development, alongside the establishment of a unified national market [5]. Group 4: Social Welfare and Environmental Goals - The fiscal focus will also include strengthening basic social security, promoting green transformation in economic and social development, and enhancing international financial cooperation [5]. - The government aims to improve employment, education, healthcare services, and social security systems to meet public needs and expand development space [5]. Group 5: Fiscal Management and Debt Control - The conference highlighted the need for comprehensive fiscal management to promote high-quality fiscal development, emphasizing the importance of both top-down and bottom-up approaches [7][8]. - There will be a focus on managing government debt effectively, with a commitment to resolving existing hidden debt risks while preventing the accumulation of new hidden debts [8].