China’s Budget Revenues Climb 0.8 Percent in 2025
The Finance Ministry reported that total budget revenues reached 18.65 trillion yuan ($2.63 trillion) from January to October.
Tax revenues grew 1.7% to 15.34 trillion yuan ($2.16 trillion), while non-tax revenues declined 3.1% to 3.31 trillion yuan ($470 billion).
During the same period, budget spending rose 2% to 22.58 trillion yuan ($3.18 trillion), leaving a deficit of roughly $550 billion for the 10-month period.
For 2024, China’s government recorded budget revenues of 21.97 trillion yuan ($3.05 trillion), with expenditures totaling 28.46 trillion yuan ($3.93 trillion).
Earlier, the government indicated plans to boost spending to stimulate growth, raising this year’s budget deficit-to-GDP target from 3% to 4%.
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