# social spending

China’s 2026 Fiscal Playbook: Bigger, Better‑Targeted Spending to Shore Up Growth and Jobs

China’s finance ministry has outlined a 2026 fiscal strategy that raises the overall spending envelope while reallocating funds toward consumption, social services and high‑impact projects. The plan marries a larger deficit and bond issuance with zero‑base budgeting, better performance management and reforms to transfer payments and tax preferences to boost domestic demand and sustain growth.