财政部释放重大信号：今年财政支出力度只增不减，投资于人是重点

Group 1 - The Ministry of Finance plans to maintain necessary levels for fiscal deficit, total debt, and expenditure in 2026, ensuring that overall spending intensity will "only increase" and key areas will be "strengthened" [1][2] - The fiscal deficit rate for 2026 is expected to be no lower than 4%, with the deficit scale rising from 5.66 trillion yuan in 2025 to approximately 6 trillion to 6.25 trillion yuan [1][2] - Analysts predict that the new government debt scale for 2026 may further increase to around 12.5 trillion yuan to support broad fiscal spending intensity and ensure the "three guarantees" at the grassroots level [2][6] Group 2 - The government emphasizes optimizing expenditure structure, focusing on critical areas such as consumption stimulation, investment in human capital, and social welfare [3][4] - A significant portion of fiscal funds will be allocated to enhance human capital accumulation, which is crucial for fostering new productive forces and accelerating economic growth [3][4] - The government plans to implement a series of policies to promote domestic demand, including loan interest subsidies for small and micro enterprises and personal consumption loans [4][5] Group 3 - In 2026, the government will continue to issue long-term special bonds for major strategic implementations and new equipment updates, with 1.3 trillion yuan issued in 2025 for these purposes [5][6] - The first batch of 625 billion yuan in long-term special bond funds has already been allocated, with multiple optimizations in the "two new" policies for 2026 [5][6] - The National Development and Reform Commission has organized a list of early "two heavy" construction projects and central budget investment plans totaling approximately 295 billion yuan, focusing on urban infrastructure and logistics cost reduction [6]