China's strong fiscal stimulus to spur economy: finance minister

China has unlocked strong fiscal stimulus in recent months to prop up the real estate sector and consumption while forestalling risks as part the efforts to spur economic growth, Finance Minister Lan Fo'an said at a symposium during the China Development Forum 2025 in Beijing on Sunday.

Speaking at the Symposium on Macro Policies and Economic Growth, Lan briefed the attendees about the Chinese government's policy design and how incremental fiscal policy measures have driven industrial growth, consumer spending and fixed-asset investment since the third quarter of last year.

In the first two months of 2025, industrial output, retail sales, and fixed-asset investments of enterprises, grew by 5.9 percent, 4 percent, and 4.1 percent year on year, respectively, all surpassing the growth rates of the previous year. This reflects a sustained upward trend in China's economic performance, Lan said.

The minister stressed that China's fiscal policy measures are designed to balance multiple objectives, including ensuring growth, optimizing the economic structure, improving people's livelihoods, and mitigating risks.

"We have refined our policymaking with the issuance of government bonds and local government special bonds, which will provide capital for major state-owned commercial banks to reclaim idle land and unsold housing and implement the consumer goods trade-in programs. We are also adopting a negative list management approach for the investment scope of special bonds, enhancing policy integration, and combining various fiscal and tax tools while coordinating them with monetary measures, in order to maximize overall effectiveness of our policies," Lan said.

Lan said that the central authorities aim for precise implementation regarding these measures.

"We are making full use of the policy space and taking decisive and proactive action for targeted areas. We are accelerating fiscal spending and the issuance of bonds to ensure timely and effective expenditure. With overall planning, step-by-step implementation and sustained efforts, we are building up reserves in advance and enrich our toolkit in policymaking," Lan said.

The China Development Forum 2025 take place from March 23 to 24 this year, with its opening ceremony gathering around 720 attendees, including entrepreneurs, government officials, experts and representatives from international organizations from home and abroad.

China's strong fiscal stimulus to spur economy: finance minister

China's strong fiscal stimulus to spur economy: finance minister

Chinese Vice Premier He Lifeng, who is China's lead official for China-U.S. economic and trade affairs, held a video call with U.S. Trade Representative Jamieson Greer at the latter's invitation on Wednesday.

Focusing on the implementation of the important consensus reached by the two heads of state during their phone call on January 17 this year, the two sides exchanged views on major bilateral economic and trade issues in a candid and in-depth manner.

The Chinese side expressed grave concerns over additional U.S. tariffs on Chinese imports under the pretext of the fentanyl issue, the Section 301 investigation that target Chinese imports, and planned "reciprocal" tariffs.

Section 301 of the U.S. Trade Act of 1974 authorizes the U.S. Trade Representative to impose tariffs or other import restrictions on foreign products after determining that "an act, policy, or practice of a foreign country is unreasonable or discriminatory and burdens or restricts United States commerce."

Both sides confirmed their belief that stable China-U.S. economic and trade relations are in the interests of both countries and agreed to maintain communication on each other's concerns.

Chinese vice premier, US trade representative hold video call on economic issues