Ministry of Finance: Will Reasonably Increase the Proportion of Public Service Expenditures in Total Fiscal Expenditures

GateUser-bd883c58 · 2026-03-22T07:35:42+00:00

At the China Development Forum 2026 Annual Conference, Finance Minister Lan Fo'an stated that over the next five years, increased investment will be made in education, healthcare, and social security, raising the proportion of public service expenditures to meet people's livelihood needs and reduce household costs for elderly care and childcare.

GateUser-bd883c58

2026-03-22 07:35:42

Abstract generation in progress

At the China Development High-Level Forum 2026 Annual Meeting held today, Minister of Finance Lan Fuan stated that over the next five years, there will be increased investment in people, with a reasonable increase in the proportion of public service spending in fiscal expenditure.

Lan Fuan said, “During the 14th Five-Year Plan period, China’s fiscal investment in people’s livelihoods approached 100 trillion yuan, accounting for over 70% of fiscal expenditure, helping to build the world’s largest education system, social security system, and healthcare system.” In the next five years, the government will increase the proportion of investment in people’s livelihood projects, expanding development space to meet people’s needs.

He also mentioned that policies investing in people will be continuously improved, including providing elderly care consumption subsidies for the “elderly and children” groups, implementing child-rearing subsidy systems, improving free preschool education policies, and supporting the expansion of inclusive childcare and elderly care service providers. Multiple measures will be taken to reduce family costs for elderly care and child-rearing.

(CCTV Reporter Liu Ying, Ding Yani)

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