Steady progress with proactive efforts to ensure a good start and a good beginning for the "15th Five-Year Plan"—Representatives and committee members review and discuss the plan report and budget report

Xinhua News Agency, Beijing, March 7 — Title: Steady Progress and Striving for Excellence to Ensure a Good Start and a Strong Beginning for the 14th Five-Year Plan — Deputies and Committee Members Review and Discuss the Planning and Budget Reports

Xinhua News Agency Reporter

2026 marks the first year of the 14th Five-Year Plan. Doing a good job in economic and social development is of great significance. On the 7th, NPC deputies and CPPCC members attending the National Two Sessions carefully examined and enthusiastically discussed the planning and budget reports.

Everyone agreed that the policy arrangements in the two reports clarify development paths and address public concerns. We must work diligently and strive forward, promote qualitative improvements and reasonable quantitative growth in the economy, and aim to accomplish the year’s economic and social development goals, ensuring a strong start and a good beginning for the 14th Five-Year Plan.

Continuously Consolidate and Expand the Steady and Positive Economic Momentum

The Government Work Report clearly outlines a series of economic and social development goals for this year. In response, the planning and budget reports have made corresponding work arrangements.

“Currently, the domestic and international development situation is complex and volatile, with great external uncertainties. We need to intensify policy adjustments, use the certainty of macro policies to counteract uncertainties, continuously consolidate and expand the positive economic momentum, and lay a solid foundation for a good start to the 14th Five-Year Plan,” said Liu Shangxi, Vice President of the China Macroeconomics Society.

The deficit rate is planned to be around 4%; the total general public budget expenditure will reach 300.1 billion yuan; and ultra-long-term special government bonds of 1.3 trillion yuan will continue to be issued… During the review of the budget report, Tian Xuan, a distinguished professor at Peking University, highlighted the arrangements related to fiscal expenditures in 2026.

“The first year of the 14th Five-Year Plan sees high demand across various fields for fiscal spending. The arrangements for general public budget expenditure and new government bonds this year are at record highs. Efforts to improve the efficiency of fund use will provide strong support for a good start to the 14th Five-Year Plan,” Tian Xuan said.

The plan report also makes clear arrangements for monetary policy, including “making the promotion of economic stability and reasonable price increases a key consideration” and “flexibly and efficiently using policy tools such as reserve requirement ratio cuts and interest rate reductions.”

Nankai University School of Finance Dean Fan Xiaoyun, who has been paying close attention to monetary policy in recent years, said: “Finance is the bloodline of the real economy. Continuing to implement moderately relaxed monetary policy, using various policy tools to keep liquidity ample and overall financing costs stable or slightly lower, is conducive to creating a good monetary and financial environment for economic and social development.”

Currently, the pattern of strong supply and weak demand persists domestically. To expand domestic demand, the planning and budget reports specify multiple policies.

During the review, Li Feng, Director of the Shandong Provincial Finance Department, paid particular attention to the “introduction of a package of policies to promote domestic demand through fiscal and financial coordination.” He said: “This package, through market-based means such as loan interest subsidies, financing guarantees, and risk compensation, achieves ‘small funds leveraging large funds, with government guiding the market,’ and will more strongly support investment expansion and consumption promotion.”

Unwavering Commitment to High-Quality Development

Deputies and committee members stated that the two reports reflect a comprehensive, accurate, and full implementation of new development concepts, accelerate the construction of a new development pattern, and promote high-quality development. A series of practical and hard measures inspire confidence and motivate progress.

“Both reports propose multiple measures to accelerate the cultivation and expansion of new drivers of growth, fully embodying the requirements for developing new productive forces and speeding up the construction of a modern industrial system,” said Fu Zitang, a professor at Southwest University of Political Science and Law.

The report’s mention of “promoting deep integration of technological innovation and industrial innovation” has been a focus for Shi Haofei, Vice President of the Chongqing Institute of Green and Intelligent Technology, Chinese Academy of Sciences. “The report clarifies measures to strengthen enterprise-led industry-university-research collaboration, cultivate high-level tech incubators, and transfer institutions, which will attract more capital and talent, and accelerate the industrialization of scientific and technological achievements,” Shi said.

Activating the potential of the large market and leveraging its advantages are essential paths to achieving high-quality development.

While reviewing the plan report, Zhang Xiaowen, Chairwoman of Northeast Piano Instruments Co., Ltd., carefully studied the key initiatives listed in the “Deepening the Construction of a Unified National Market” section. She said: “I look forward to these tangible measures creating better development ‘soil’ for private enterprises and further activating market potential and vitality.”

Development and security must achieve a dynamic balance and complement each other.

“Both reports reflect the requirements for coordinating high-quality development with high-level security,” said Yu Jiaao, Party Secretary of Baoyuanling Branch of Beidahuang Group from Heilongjiang. “We will step up efforts to build high-standard farmland, further strengthen black soil protection, promote modern agricultural science and technology into villages and households, and make the national grain security ‘ballast stone’ even more solid.”

Increasing Efforts to Guarantee and Improve People’s Livelihoods

The central government has allocated 66.7 billion yuan in employment subsidy funds; the central general public budget education expenditure is planned at 192.5 billion yuan, an increase of 5%; and the minimum monthly basic pension for urban and rural residents has been raised by 20 yuan… Each livelihood measure in the budget report is substantial.

Deputies and committee members said that despite increasing pressure on fiscal revenue and expenditure balance, the livelihood保障 in the “national ledger” remains significant and substantial, fully demonstrating the people-centered development philosophy.

Employment is the most important livelihood issue. The plan report proposes “implementing actions to stabilize employment, expand capacity, and improve quality” and “support industries and enterprises with strong employment absorption capacity,” which greatly encourages He Han, Chairman of Tianyu Digital Technology. He said: “With these policies, enterprises can make longer-term investments in talent reserves, helping more people find employment and increase income through their skills.”

Education is a major national and party priority. The budget report explicitly states “further increasing fiscal investment in education” and proposes measures such as “improving free preschool education policies” and “promoting high-quality, balanced compulsory education and accessible, high-quality preschool education.”

“These policies actively respond to people’s livelihood concerns and are of great significance for promoting educational equity and easing families’ childcare burdens,” said Tu Qingming, Director of the Yaan City Education Examination Institute, Sichuan Province.

From early childhood education to elderly care, the two reports specify multiple practical measures and increase financial support.

Yue Zehui, Deputy Director of the Liaoning Provincial Medical Security Bureau, was impressed by the plan’s mention of “enhancing parental subsidies, improving maternity insurance, maternity leave, and other systems.” She said: “This is a strong reflection of building a fertility-friendly society. Liaoning will continue to implement policies supporting childbirth, improve prenatal checkup benefits, and reduce the burden on families.”