On March 26, 2026, the 2026 central government budget was fully released to the public, with the Ministry of Finance holding a press briefing to elaborate on core budget contents and key priorities. As the opening year of the 15th Five-Year Plan period, this budget release lays a solid foundation for policy implementation and efficient capital allocation.
The released budget covers four core sections: general public budget, government-managed fund budget, state-owned capital operating budget and their revenue and expenditure changes; balance of social insurance funds; government debt balance and quota; and detailed breakdowns of 49 transfer payment items by region, realizing full transparency of transfer payment funds. Central government departments have disclosed 9 key financial statements, including revenue and expenditure, fiscal appropriations, “three public” funds and government procurement, to strengthen budget constraints and performance management.
This year’s central budget focuses on three major orientations. First, it prioritizes the kickoff of the 15th Five-Year Plan, increasing investment in scientific and technological innovation, new quality productive forces and green low-carbon transformation to drive industrial upgrading and high-quality development. Second, it continues to safeguard people’s livelihood, expanding investment in education, medical care, elderly care and other public services to improve the social security system. Third, it boosts regional coordinated development, tilting transfer payments to central and western regions and underdeveloped areas to support rural revitalization and common prosperity.
The full disclosure of transfer payment details is a crucial step to improve fiscal governance, enabling precise tracking of capital flows and preventing misappropriation or idleness of funds. Experts noted that the transparent budget will enhance the predictability and execution of fiscal policies. Local governments and departments should strictly implement budget arrangements, strengthen fund coordination and performance supervision to ensure policy effectiveness, and kick off a good start for economic and social development in the 15th Five-Year Plan period.
