Gao Peiyong: Valorizar a "Gestão Científica das Finanças"

Topic: China Macroeconomic Forum(CMF)2026

The CMF quarterly forum (Q1 2026) was held on April 4th. The theme was “Pragmatic and Progressive China’s Macroeconomy”. Member of the Chinese Academy of Social Sciences, Gao Peiyong, emphasized the importance of “fiscal scientific management”.

Gao Peiyong proposed that, first, those in charge must manage finances wisely. They should not only ask about matters without considering money, nor only discuss benefits without considering costs. He said, “In our macroeconomic analysis, we often say that strength is insufficient and needs to be increased, but while proposing such policy suggestions, we must also state what costs we will pay to increase strength. Especially when costs and benefits collide, it is essential to calculate which is greater—cost or benefit. Not doing so is clearly unacceptable.”

Second, the “tight budgeting” of government departments is a normal state. He emphasized that government departments’ “tight budgeting” should not be regarded as a temporary measure or a stopgap. Nor should it be just talk without action. “End-of-year rush spending, spending just for the sake of spending, should be highly alert to such phenomena, and it should be positioned from the perspective of overall high-quality development.”

Third, budget performance evaluation should not be limited to investment projects; other government projects should also undergo budget performance evaluation. “The ‘Government Work Report’ and ‘Budget Report’ specifically propose that fiscal management should extend to the entire chain of fund use and fully cover budget units. Business processes should be continuously optimized, and expenditure standards should be more sound,” he said.

Fourth, in the process of shifting from “investing in things” to “investing in people,” particular attention must be paid to fiscal scientific management, which is an urgent and very important issue to be addressed.

Sina statement: All meeting transcripts are compiled from on-site shorthand notes, not reviewed by speakers. The publication of this article by Sina is for the purpose of conveying more information and does not imply endorsement of its views or verification of its descriptions.

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Editor: Liang Bin SF055