# government debt

China Pledges Bigger, Smarter Spending in 2026 as Fiscal Push Shifts from Quantity to Quality

China’s finance ministry has pledged that public spending will rise in 2026 while shifting focus to more efficient, targeted outlays. The statement follows a large 2025 fiscal expansion — including an elevated deficit and heavy bond issuance — and is accompanied by measures to stimulate consumption, support enterprise innovation, and clean up local fiscal practices.