How can fiscal policy become more proactive? Lan Fo'an: Provide sufficient funding scale and amplify policy coordination effects

**　　[Caixin]** In 2026, the deficit rate will remain at a historical high of around 4%. Ultra-long special bonds and local government专项 bonds will stay at high levels, and a 100 billion yuan fiscal and financial coordination fund to boost domestic demand will be launched. Minister of Finance Lan Fuan stated at a press conference on March 6 that in 2026, China will continue to implement a more proactive fiscal policy, which is reflected not only in the scale of funds and sufficient policy strength but also in strengthening policy coordination to amplify the effects.

Lan Fuan said that in recent years, fiscal policy has always maintained an active orientation. In 2025, a more proactive fiscal policy was implemented for the first time, further strengthening macroeconomic regulation. In 2026, the tone of “more proactive” will continue, maintaining the intensity based on the expansion of total volume in 2025. This arrangement fully considers the profound and complex changes in the current domestic and international situation, balancing counter-cyclical and cross-cyclical adjustments. It can effectively hedge short-term fluctuations, promote the economy to operate within a reasonable range, and also facilitate structural optimization and enhance economic resilience, providing solid support for a good start and a good beginning for the 14th Five-Year Plan.