Ministry of Finance: National General Public Budget Revenue of 21.6 Trillion Yuan in 2025, Tax Revenue Achieves Growth

MetaMuskRat · 2026-03-17T01:31:02+00:00

The 2025 China Fiscal Policy Report shows that the national economy remains generally stable, with fiscal revenue at 21.6 trillion yuan, down 1.7% year-over-year. Tax revenue experienced modest growth, while non-tax revenue declined. Among regions, 27 provinces achieved fiscal revenue growth, with expenditures in key areas secured.

MetaMuskRat

2026-03-17 01:31:02

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People’s Financial News, March 17 — The Ministry of Finance released the 2025 China Fiscal Policy Implementation Report. In 2025, China’s economy operated generally steadily with steady progress, and fiscal operations remained smooth and orderly. Fiscal departments at all levels strengthened resource coordination, maintained necessary expenditure levels, and ensured key areas of spending were well protected.

In 2025, the national general public budget revenue was 21.6 trillion yuan, a 1.7% decrease compared to 2024. Among them, tax revenue increased by 0.8%, showing a steady upward trend throughout the year; non-tax revenue decreased by 11.3%, mainly due to the one-time transfer of special income from central units in 2024, which raised the base.

Looking at different tax types, domestic value-added tax grew by 3.4%, maintaining steady growth throughout the year; domestic consumption tax increased by 2%, mainly driven by growth in cigarette and refined oil consumption taxes; corporate income tax grew by 1%, mainly driven by growth in manufacturing sector corporate income tax.

In terms of industries, taxes performed well in equipment manufacturing, modern services, and other sectors. Computer and communication equipment manufacturing tax revenue increased by 13.5%, electrical machinery and equipment manufacturing increased by 8%, scientific research and technical services increased by 14.3%, and cultural, sports, and entertainment industries increased by 7.5%.

In 2025, the central general public budget revenue was 9.4 trillion yuan, a 6.5% decrease compared to 2024; local general public budget revenue was 12.2 trillion yuan, a 2.4% increase over 2024, with growth rates 0.8 and 0.6 percentage points higher than in the first half and the first three quarters, respectively.

Regionally, among the 31 provinces, autonomous regions, and municipalities directly under the central government, except for some areas affected by the decline in prices of bulk commodities such as coal, 27 regions achieved year-on-year growth in fiscal revenue.

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