China to continue with more proactive fiscal policy: finance minister

BEIJING, Sept. 10 -- China's fiscal policy has become more proactive and provided sustained support this year, with budget execution and fiscal operations remaining stable, Finance Minister Lan Fo'an said on Wednesday.

Entrusted with the task by the State Council, Lan delivered a report to the 17th session of the Standing Committee of the 14th National People's Congress on this year's budget implementation to date.

Lan cited a raft of measures to illustrate how China is putting its more proactive fiscal stance into practice, including measures to deploy fiscal and tax tools to fund a special consumption-boosting campaign, offer interest subsidies on individual consumption loans and services sector loans, and launch a program to help care-dependent senior citizens cover care services bills.

The scope of grants to scrap old vehicles and replace home appliances has also been broadened, and the issuance of ultra-long special treasury bonds in 2025 began a month earlier than last year, according to Lan.

Going forward, China will make full, effective use of its more proactive fiscal policy and continuously improve its policy toolkit, he said. The country will also maintain policy consistency and stability, incorporating greater flexibility and foresight, aiming to meet each headwind with the certainty of high-quality development, he added.