China’s Ministry of Finance released its draft 2026 budget report, including plans for a more proactive fiscal policy to support the domestic market, advanced technology and public welfare.
Major central government expenditures:

National defence: 1.91 trillion yuan, up 7 per cent

Debt interest payments: 874 billion yuan, up 6.7 per cent

Science and technology: 426 billion yuan, up 10 per cent

Public security: 258 billion yuan, up 5.9 per cent

Education: 192 billion yuan, up 5 per…