Report: Last year's central budget execution was generally better, and fiscal policy was more proactive

Golden Finance reports, June 23: Pursuant to a delegation from the State Council, Minister of Finance Lan Faan delivered, on June 23, a report on the 2025 central budget final accounts to the 23rd meeting of the Standing Committee of the 14th National People’s Congress.

According to the report, in 2025, the overall situation of the central budget final accounts was generally favorable. Fiscal policy was more proactive, with efforts focused on stabilizing economic performance and promoting high-quality development. According to the report, in 2025, central general public budget revenue was 93,972.53 billion yuan, or 96.9% of the budget. Together with related transferred-in funds, total revenue amounted to 97,372.53 billion yuan.

Central general public budget expenditure was 144,857.27 billion yuan, completing 98.2% of the budget. Together with supplementary transfers to the central budget stabilization fund, total expenditure amounted to 145,972.53 billion yuan.

Regarding this year’s fiscal operations, the report noted that since the beginning of this year, the fiscal departments have tightened efforts to ensure a strong start and implemented more proactive fiscal policies. They have introduced a package of policies for fiscal and financial coordination to boost domestic demand, among other measures. As of the end of May, 6.41 trillion yuan in government bonds had been issued; 1.83 trillion yuan in newly issued local government bonds had been issued; and 9.21 trillion yuan in central-to-local transfer payments had already been allocated. In the first five months of this year, fiscal revenue and expenditure operations were generally steady, and spending in key areas was effectively guaranteed.

Next, the fiscal departments will implement more proactive fiscal policies in a precise and effective manner, continue to optimize the structure of fiscal expenditure, intensify efforts to ensure budget execution and policy delivery, expand domestic demand and optimize supply, push forward in depth the development of a nationwide unified market, and effectively strengthen safeguards for people’s livelihoods. They will ensure stable operation of local-level finances and comprehensively enhance scientific fiscal management. (Xinhua News Agency)