FX.co ★ China Fiscal Revenues Rise 0.3% in Jan–August

In the first eight months of 2025, China's fiscal revenue experienced a modest increase of 0.3% compared to the same period last year, as reported by the Ministry of Finance. This follows a slight rise of 0.1% observed between January and July. Throughout this timeframe, fiscal revenue reached CNY 14.82 trillion (USD 2.09 trillion). The central government’s collections amounted to approximately CNY 6.43 trillion, marking a 1.7% year-over-year decrease, while local government revenues increased by 1.8% to CNY 8.39 trillion. Tax revenue showed a negligible increase of 0.02% year-over-year, totaling CNY 12.11 trillion, and non-tax revenue saw an uptick of 1.5%, reaching CNY 2.71 trillion. In parallel, fiscal expenditure rose by 3.1% to CNY 17.93 trillion. Central government spending surged by 8%, and local government expenditure grew by 2.3% within the same duration. Notably, education spending amounted to approximately CNY 2.71 trillion, reflecting a 5.6% rise. Investment in science and technology reached CNY 587.4 billion, a 3.1% increase, while expenditures on social security and employment saw a significant growth of 10%, totaling CNY 3.07 trillion.