ECONOMY

China’s Finance Minister Vows to Speed Up Fiscal Stimulus

Published: Mar. 24, 2025 6:39 p.m. GMT+8

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Minister of Finance Lan Fo'an speaks at the Annual Conference of the China Development Forum 2025 in Beijing on Sunday. Photo: China Development Forum

China’s finance minister has promised to move ahead with fiscal stimulus as soon as possible.

“We will accelerate fiscal spending, expedite bond issuance and utilization, and swiftly translate it into tangible expenditures,” Lan Fo’an said in a speech Sunday at the two-day China Development Forum.

China has stepped up policy stimulus as tepid domestic demand, particularly household consumption, continues to weigh on the growth of an economy under pressure from a sluggish property market and facing risks from hidden local government debt.

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China plans to expedite fiscal spending and bond issuance to stimulate the economy, facing challenges from weak domestic demand and property market issues.
A 4% deficit ratio is projected, with a record 1.3 trillion yuan in ultra-long treasury bonds and 4.4 trillion yuan in special-purpose bonds to support consumer spending, infrastructure, and local governments.
Efforts to boost domestic consumption include enhanced fiscal policies, increased pension payouts, childcare subsidies, and consumer loans, aiming to leverage China's spending potential.

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