财政政策如何继续“更加积极”：扩大财政支出盘子，强化重点领域保障

Core Viewpoint - The Chinese government plans to implement a more proactive fiscal policy in 2026, focusing on expanding fiscal expenditure and optimizing spending structures to support economic growth and ensure a strong start to the "14th Five-Year Plan" [1] Group 1: Fiscal Policy and Economic Growth - The government aims to enhance domestic demand and support the construction of a robust domestic market, with a strong emphasis on boosting consumption through various initiatives [1] - Plans include funding for consumer incentives, optimizing personal consumption loan interest subsidies, and promoting new consumption models [1][2] - There will be a continued focus on effective investment in key areas such as new productivity and comprehensive human development [1] Group 2: Infrastructure and Social Welfare - Fiscal funds will be directed towards infrastructure investments and social welfare to reduce consumer concerns and stimulate spending [2] - The issuance of long-term special government bonds is expected to support major national projects and increase investment demand [2] - There will be a shift in fiscal spending towards improving living standards and enhancing consumer confidence [2] Group 3: Technological and Industrial Innovation - The government plans to increase fiscal investment in technology and strengthen the role of enterprises in innovation [2] - Policies will be implemented to support the integration of technological and industrial innovation, including financial incentives for technology adoption and application [2] - The focus will be on developing a modern industrial system and promoting high-quality development in key manufacturing sectors [2] Group 4: Social Security and Regional Development - Strengthening social security and ensuring basic living standards will be a priority, with measures to increase residents' income through various channels [3] - The government will promote urban-rural integration and regional coordination, supporting rural revitalization and enhancing agricultural productivity [3] - Fiscal policies will be adjusted to facilitate public services that are portable and accessible, promoting coordinated development in major regions [3]