China’s fiscal spending increased 2.6% from a year earlier to CNY 7.47 trillion (USD 1.09 trillion) in the first quarter, sharply accelerating from a 1% rise in the same period of 2025, supported by the government’s efforts to boost economic growth amid rising global risks stemming from the Middle East conflict, the finance ministry said on Friday, as reported by Reuters. During the period, fiscal revenue rose 2.4% to CNY 6.16 trillion. First-quarter fiscal spending accounted for 24.9% of annual budgeted expenditure, the highest in recent years, a finance ministry official told a media briefing, as authorities pledged to boost government outlays to help meet this year’s economic growth target. At an agenda-setting meeting last month, Chinese policymakers vowed to continue a “more proactive” fiscal policy for 2026, promising record public spending, government bond issuance, and transfers to local governments.