Economic Buzz: China?s fiscal revenue inches up 0.1% in Jan?Jul

China?s fiscal revenue rose slightly by 0.1% year-on-year to CNY 13.58 trillion ($1.9 trillion) in the first seven months of 2025, supported by a 1.8% increase in local government revenue to CNY 7.73 trillion. Central government revenue, however, slipped 2% to CNY 5.85 trillion. Non-tax revenue grew 2% to CNY 2.49 trillion, while national tax revenue dipped 0.3% to CNY 11.09 trillion. On the spending side, fiscal expenditure expanded 3.4% to nearly CNY 16.1 trillion, with social security and employment outlays topping CNY 1.76 trillion.

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