Ministry of Finance: Implement an active fiscal policy to continuously prevent and resolve local government debt risks

The Zhitong Finance App learned that on December 26, the Party Group Theory Study Center Group of the Ministry of Finance conducted a group study discussion on “thoroughly studying and understanding the spirit of the Fourth Plenary Session of the 20th CPC Central Committee and playing a positive role in fiscal policy”. The conference emphasized the need to adhere to high-quality development, implement active fiscal policies, continuously improve the effectiveness and accuracy of financial macro-control, support the expansion of domestic demand, help the development of new quality productivity, and promote a smooth economic cycle. We must insist on comprehensively deepening reforms, strengthen scientific financial management, and increase momentum and dynamism for development. We must adhere to the combination of an effective market and a promising government, grasp the boundaries of fiscal roles, focus financial resources on the public sector, and give full play to the decisive role of the market in resource allocation. We must adhere to integrated development and security, further establish risk awareness and bottom line thinking, continuously prevent and resolve local government debt risks, strengthen financial security in key areas such as important industries and major science and technology, and enhance financial sustainability and development security stability.

The original text is as follows:

The Party Group Theory Study Center Group of the Ministry of Finance thoroughly studied and understood the spirit of the Fourth Plenary Session of the 20th CPC Central Committee

On December 26, 2025, the Party Group Theory Study Center Group of the Ministry of Finance conducted a group study discussion on “thoroughly studying and understanding the spirit of the Fourth Plenary Session of the 20th CPC Central Committee and playing an active role in fiscal policy”. Comrade Lan Foan, Party Secretary and Minister of the Ministry of Finance, presided over the meeting and delivered a speech.

The conference pointed out that the Fourth Plenary Session of the 20th CPC Central Committee accurately grasped the historical direction of China's development, thoroughly analyzed the international and domestic situation, clarified the guidelines and main goals for economic and social development during the “15th Five-Year Plan” period, and drew up a grand blueprint for development over the next five years. It is another general mobilization and headquarters deployment to take advantage of the momentum and continue to promote Chinese-style modernization. It will surely have a significant and profound impact on the development of the cause of the Party and the country.

The conference emphasized the need to deeply understand the important position of the “15th Five-Year Plan” period, unify ideas and actions into the Party Central Committee's basic judgment and strategic deployment on the situation, deeply grasp and thoroughly implement the “six principles we adhere to”, and better play the role of finance as a foundation and important pillar in national governance. We must adhere to the overall leadership of the Party, further deeply understand the decisive significance of the “Two Establishments”, integrate the Party's overall leadership into all aspects of the financial work process, resolutely implement the spirit of General Secretary Xi Jinping's important instructions and instructions on financial work, and always check against the requirements of the Party Central Committee in the process of studying budget arrangements, implementing fiscal policies, and advancing fiscal and taxation reforms. We must adhere to the supremacy of the people, always take the people's yearning for a better life as our goal, do our best and do what we can, focus on solving the people's urgent problems and expectations, and promote people's livelihood and welfare to a higher level. We must adhere to high-quality development, implement an active fiscal policy, continuously improve the effectiveness and accuracy of financial macro-control, support the expansion of domestic demand, help the development of new quality productivity, and promote a smooth economic cycle. We must insist on comprehensively deepening reforms, strengthen scientific financial management, and increase momentum and dynamism for development. We must adhere to the combination of an effective market and a promising government, grasp the boundaries of fiscal roles, focus financial resources on the public sector, and give full play to the decisive role of the market in resource allocation. We must adhere to integrated development and security, further establish risk awareness and bottom line thinking, continuously prevent and resolve local government debt risks, strengthen financial security in key areas such as important industries and major science and technology, and enhance financial sustainability and development security stability.

The meeting requested that every effort should be made to study, publicize and implement the spirit of the plenary session. Carefully plan and arrange, organize Party members and cadres to learn from their original roots, study thoroughly in a systematic manner, connect with practical studies, and thoroughly understand the spirit of the plenary session. It is necessary to thoroughly publicize and promote, and create a strong atmosphere for in-depth study and implementation of the spirit of the plenary session. It is necessary to strengthen responsibility in carrying out duties with due diligence, actively cooperate in preparing the outline of the national “15th Five-Year Plan” plan, scientifically plan and prepare the “15th Five-Year Plan” plan for finance and the “15th Five-Year Plan” in the field of accounting; take good care of the breakdown of tasks and division of responsibilities within the Ministry, and make every effort to implement the major strategic tasks deployed by the Party Central Committee. It is necessary to strengthen the leading and safeguarding role of party building, deploy and implement the high-quality party building guarantee plenary session, and establish a vivid situation where everyone works hard and forge ahead. Studying and implementing the spirit of the Central Economic Work Conference, studying and planning financial work for 2026 and implementing the spirit of the Fourth Plenary Session of the 20th CPC Central Committee should be closely integrated to promote sustainable and healthy economic and social development and ensure a good start to the “15th Five-Year Plan”.

Members of the Ministry Party Group Theoretical Study Center gave speeches on the topic. Comrades in charge of the Ministry's Discipline Inspection and Monitoring Team, as well as comrades in charge of various departments and bureaus of ministries and departments, affiliated units in Beijing, and centralized management fund companies attended the conference.

This article was selected from the “Ministry of Finance” official website, Zhitong Finance Editor: Feng Qiuyi.