# deficit-to-GDP

China Keeps Deficit Ratio at About 4% While Adding Long‑dated Bonds — A Measured Push to Start the 15th Five‑Year Plan

China will keep its fiscal deficit target at about 4% of GDP for 2026 while raising the nominal deficit to 5.89 trillion yuan and issuing 1.3 trillion yuan of ultra‑long sovereign bonds. The package aims to provide measured stimulus to kick‑start the 15th Five‑Year Plan, combining infrastructure and new‑economy investment with greater social spending, while managing central leverage.