FX.co ★ China Jan-Oct Fiscal Revenue Up 0.8% yoy

China's fiscal revenue experienced a modest increase of 0.8% in the first ten months of 2025 compared to the same period the previous year, as reported by the Ministry of Finance on Monday. This growth follows a 0.5% rise recorded from January to September. The total fiscal revenue during this timeframe reached approximately CNY 18.65 trillion (USD 2.63 trillion). The central government's revenue collections amounted to about CNY 8.19 trillion, reflecting a 0.8% year-on-year decrease, while local governments saw an increase of 2.1%, collecting CNY 10.46 trillion. Tax revenue showed a year-on-year rise of 1.7%, reaching CNY 15.34 trillion, whereas non-tax revenue decreased by 3.1%, totaling CNY 3.31 trillion. Fiscal expenditure, on the other hand, expanded by 2%, amounting to CNY 22.58 trillion. The expenditure by the central government increased by 6.3%, and local government spending grew by 1.2% during the same period. Investment in education was approximately CNY 3.41 trillion, marking a 4.7% rise. Science and technology expenditures climbed to CNY 784.7 billion, representing a 5.7% increase. In contrast, spending on social security and employment surged by 9.3%, reaching CNY 3.77 trillion.