{"id":427972,"date":"2026-03-05T07:25:11","date_gmt":"2026-03-05T00:25:11","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/2026\/03\/china-five-year-plan-calls-for-more-proactive-fiscal-policy\/"},"modified":"2026-03-05T07:25:11","modified_gmt":"2026-03-05T00:25:11","slug":"china-five-year-plan-calls-for-more-proactive-fiscal-policy","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/china-five-year-plan-calls-for-more-proactive-fiscal-policy-427972\/","title":{"rendered":"China five-year plan calls for more proactive fiscal policy"},"content":{"rendered":"<div>\n<p>The China National People&#8217;s Congress kicks off today and the five-year growth targets and plan are out, with Reuters obtaining a copy.<\/p>\n<ul>\n<li>2026 GDP target set at 4.5% to 5%<\/li>\n<li>CPI target set at around 2%<\/li>\n<li>Growth rate set for &#8216;reasonable rate&#8217; for the next five years<\/li>\n<li>Will set 2026 budget deficit at 4% of GDP<\/li>\n<li>Plan will stick to strategic aim of expanding domestic demand<\/li>\n<li>Will implement more proactive fiscal policy<\/li>\n<li>Unchanged quote on local government special bonds<\/li>\n<li>Will set up efforts to improve people&#8217;s livelihoods<\/li>\n<li>Aims to achieve greater self-reliance and strength in science and technology<\/li>\n<li>Will address risks from real estate, local gov&#8217;t debt, small and medium local financial institutions<\/li>\n<li>Will make fiscal policy play a positive role in boosting consumption and expanding investment<\/li>\n<li>Aims to realize a &#8216;notable&#8217; increase in household consumption as a share of GDP<\/li>\n<li>Will cultivate industries such as future energy, quantum tech, embodied intelligence (robots?), brain-computer interface and 6G<\/li>\n<\/ul>\n<p>The headline here is the more-proactive fiscal policy but the market isn&#8217;t going to take that at face value as we&#8217;ve heard it many times before without any resulting jump in growth numbers or consumption. So they&#8217;re hitting all the right notes but the market isn&#8217;t going to be easily convinced that the symphony has a better conductor. <\/p>\n<p>Markets would really like to see some strong actions to end the malaise in the economy but that just hasn&#8217;t been Xi&#8217;s style.<\/p>\n<p>                            This article was written by Adam Button at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The China National People&#8217;s Congress kicks off today and the five-year growth targets and plan are out, with Reuters obtaining a copy. 2026 GDP target set at 4.5% to 5% CPI target&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-427972","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/427972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=427972"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/427972\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=427972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=427972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=427972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}