Ministry of Finance: Will reasonably increase the proportion of public service expenditure in fiscal expenditure.

At the China Development High-level Forum 2026 Annual Meeting held today, Minister of Finance Lan Fo'an stated that in the next five years, China will increase investment in people and reasonably increase the proportion of public service expenditure in the fiscal budget. Lan Fo'an said, "During the 14th Five-Year Plan period, China's fiscal expenditure on people's livelihood will be close to 100 trillion yuan, accounting for over 70% of fiscal expenditures, promoting the construction of the world's largest education system, social security system, and healthcare system." In the next five years, China will increase the proportion of government investment in people's livelihood, expanding development space while meeting the needs of the people. He stated that China will continue to improve policies on investing in people, providing elderly and young population with subsidies for elderly care services, implementing a child-rearing subsidy system, improving policies on free preschool education, and supporting the expansion of universal childcare institutions and elderly care services institutions to reduce the cost of family elderly care and child-rearing through various measures.