今天继续和本薯一起读2026中英版政府工作报告吧。Report on the Work of the Government (2026)：Part 14
[摘要] 积极财政加力提效，优化支出结构保障民生。在政策取向上，我们将坚持稳中求进、提质增效，发挥存量政策和增量政策集成效应，加大逆周期和跨周期调节力度，切实提升宏观经济治理效能。
In our policy orientations, we will continue to pursue progress while ensuring stability, improve both the quality and performance of growth, boost synergy between adopted policies and new ones, enhance counter- and cross-cyclical adjustments, and make macroeconomic governance more effective.
注：
1. 提质增效 improve both the quality and performance of growth
2. 集成效应 synergy
3. 逆周期和跨周期调节 counter- and cross-cyclical adjustments
继续实施更加积极的财政政策。
今年赤字率拟按4%左右安排，赤字规模5.89万亿元、比上年增加2300亿元。一般公共预算支出规模将首次达到30万亿元、比上年增加约1.27万亿元。
We will continue to implement a more proactive fiscal policy.
The deficit-to-GDP ratio for this year is set at around 4 percent. The government deficit is set at 5.89 trillion yuan, 230 billion yuan more than last year. Expenditure in the general public budget is projected to reach 30 trillion yuan for the first time, an increase of about 1.27 trillion yuan over last year.注：
1. 赤字率，注意单位限制，The deficit-to-GDP ratio ... is set at around 4 percent，不可以直译为 The deficit ratio is 4%。赤字率是相对于 GDP 的比率，必须指明。
2. 支出规模 expenditure ... is projected to reach，不可以译为the scale of spending will reach。 在预算草案阶段，数据都是预测的，用 projected 比 will 更准确。
3.赤字规模 government deficit
拟发行超长期特别国债1.3万亿元，持续支持“两重”建设、“两新”工作等。拟发行特别国债3000亿元，支持国有大型商业银行补充资本。A total of 1.3 trillion yuan of ultra-long special treasury bonds will be issued to provide continued support for endeavors such as implementing major national strategies, enhancing security capacity in key areas, and carrying out large-scale equipment upgrades and consumer goods trade-in programs. A total of 300 billion yuan of special treasury bonds will be issued to enable large state-owned commercial banks to replenish their capital.
注：
1. “两重”建设、“两新”工作 implementing major national strategies, enhancing security capacity in key areas (两重：“国家重大战略实施”和“重点领域安全能力建设”); large-scale equipment upgrades and consumer goods trade-in programs (两新：“大规模设备更新”和“消费品以旧换新”)
2. 补充资本 replenish their capital，金融术语，特指银行补充资本金。不可译为add capital / increase capital。
3. 超长期特别国债 ultra-long special treasury bonds
拟安排地方政府专项债券4.4万亿元，完善专项债券项目负面清单管理和自审自发试点，重点支持建设重大项目、置换隐性债务、消化政府拖欠账款等。
This year, 4.4 trillion yuan of local government special-purpose bonds will be issued. We will improve negative list-based management of projects funded by these bonds and fine-tune trials to enable the promptissuance of special-purpose bonds upon provincial-level review and approval. The funds raised will be used mainly to support major projects, replace hidden debts, and settle overdue payments owed by governments.
注：
1. 自审自发 issuance upon provincial-level review and approval，原文“自”指代模糊，译文将其显化为“省级层面评审并批准”。
2. 置换隐性债务、消化政府拖欠账款 replace hidden debts, and settle overdue payments。债务用 replace（置换），账款用 settle（结算）。
3. 地方政府专项债券 local government special-purpose bonds
今年财政支出继续保持相当规模，要持续用力优化支出结构，更加注重支持提振消费、投资于人、保障民生等方面，提高财政资金使用效益。
Government spending this year will continue to be fairly large in scale. More will be done to optimize its structure so that fiscal funds are used more cost-effectively, with priority given to boosting consumption, investing in people, and raising living standards.
注：
1. 支持提振消费、投资于人，boosting consumption, investing in people，译文补充了 priority given to...，在财政支出的语境下，“支持”二字往往意味着“资金倾斜”，补充 priority given to 能体现出财政政策的导向性。
2. 继续保持相当规模 continue to be fairly large in scale
3. 译文显化“持续用力优化支出结构”和“提高财政资金使用效益”因果逻辑关系，optimize its structure so that fiscal funds are used more cost-effectively
4. 保障民生 raise living standards.
中央财政增加对地方财力性转移支付规模，开展整合统筹使用转移支付资金试点，增强地方自主财力和统筹能力。压实分级保障主体责任，兜牢基层“三保”底线。
The central government will increase its fiscal transfer payments to local governments. Trials will be conducted to promote more integrated and coordinated use of transfer payments. This will place more fiscal resources at the disposal of local governments and enhance their capacity for coordination. We will see to it that governments at all levels fulfill their respective responsibilities and that, at the primary level, basic living needs are met, salaries are paid, and governments function normally.
注：
1. “三保”底线 basic living needs are met, salaries are paid, and governments function normally，三保指保基本民生、保工资、保运转。
2. 财力性转移支付 fiscal transfer payments，指中央政府对地方政府的资金拨付， fiscal 在这里强调的是政府可支配的财力，不仅是资金转移
3. “压实责任，守住底线”，原文： 压实分级保障主体责任，兜牢基层“三保”底线。We will see to it that governments at all levels fulfill their respective responsibilities and that ... is met. “压实责任”译为 see to it that ... fulfill their ... responsibilities。这种 See to it that... so that... 的结构，能传达中文里两个并列的四字格的因果和目的。
各级政府要更好“当家理财”，建立健全增收节支机制，积极盘活利用存量资源资产，严肃财经纪律，强化预算约束，严控一般性支出，坚决落实过紧日子的要求，务必把省下来的每一分钱都用到发展的关键点、群众的急需处。We in government at every level should take better care of financial resources, establish sound mechanisms for increasing revenue and reducing spending, and make the best use of existing resources and assets. We must reinforce financial and economic discipline, strengthen budget constraints, strictly control general expenditures, and keep our belts tightened. Every cent we save must be spent on solving critical development problems and meeting people's urgent needs.
注：
1. 过紧日子 keep our belts tightened，勒紧腰带过日子，完美对应中文的政策修辞，比economize 更具政治修辞感。
2. 当家理财，take better care of financial resources，不可以直译为act as a master to manage money。意译为其核心功能，管好钱。
3.严肃财经纪律 reinforce financial and economic discipline，注意谓语动词用 reinforce 或 tighten，不能用 serious。
4. 一般性支出 general expenditures，指政府自身的办公、会议、差旅等行政运行支出。
5. 积极盘活利用 make the best use of
6. 增收节支 increasing revenue and reducing spending
【本部分话题核心表达整理】
宏观治理
Counter- and cross-cyclical adjustments (逆周期和跨周期调节)
Macroeconomic governance (宏观经济治理)
Policy synergy (政策集成效应/协同)
债务
财政管理
General public budget (一般公共预算)
Fiscal transfer payments (财政转移支付)
Budget constraints (预算约束)
General expenditures (一般性支出)
基层民生
