Beijing, March 23 — China’s Finance Minister Lan Fo’an has announced plans for a more proactive fiscal policy aimed at boosting the nation’s economic growth. Speaking at the China Development Forum 2025 on Monday, Lan emphasized the government’s commitment to enhancing consumption and investment efficiency to expand domestic demand.
Addressing current economic challenges, Lan highlighted that China’s economic and fiscal strengths have grown significantly over the years. He attributed confidence in the country’s economic development to its solid fundamentals, numerous advantages, strong resilience, and vast potential that underpins long-term growth. He also stressed the importance of having a sober understanding of potential risks and the foresight to prepare accordingly.
"China has the world’s most promising super-sized market, with immense potential for consumption growth," Lan said. He added that the central government is introducing measures on both the supply and demand sides to stimulate consumption. As part of these efforts, China is scheduled to issue 1.3 trillion yuan (about $181 billion) in ultra-long special treasury bonds in 2025, an increase of 300 billion yuan from last year.
The government funding for the national consumer goods trade-in program will also double from 150 billion yuan last year to 300 billion yuan in 2025. Lan noted that significant fiscal funds have been arranged this year, and various funding channels have been coordinated to target specific areas and support the expansion of effective investment.
Another fiscal priority is accelerating the development of new quality productive forces. The central government plans to ramp up support for education, science and technology, and talent development, promoting the deep integration of technological and industrial innovation.
Speaking to global business leaders attending the forum, Lan emphasized that China’s fiscal policy will support high-standard opening up. "China will ensure equal treatment for all types of business entities and continue to improve the business environment," he said.
The China Development Forum 2025 runs from March 23 to 24 under the theme "Unleashing Development Momentum for Stable Growth of Global Economy."
