China Cuts Waste, Aims for Smart Spending

Lan Fo’an told reporters that the government cannot keep spending endlessly. The finance minister said money is not endless, so every dollar must earn something back. He announced a smaller stimulus plan for this year. The goal is to reduce wasteful costs across ministries. He added that no new project will start without a clear return on investment. The focus is on efficiency: finish more with less money. The message came during the National People’s Congress session in Beijing. Lan Fo’an also mentioned boosting government revenue.He wants the state to earn more without cutting public services. The plan is part of a broader effort to control the national budget. Critics ask how the cuts will affect public programs. Some worry that reducing spending could slow growth in certain sectors. Others agree that better budgeting will strengthen China’s economy. The ministry plans to review all expenditures for ROI. Projects that do not meet the criteria will be paused or redesigned. The approach signals a shift toward stricter fiscal discipline.