数览中国经济半年报“含金量” 我国财政运行总体呈现平稳态势

Core Insights - The overall fiscal operation in China is stable in the first half of the year, with a slight decline in public budget revenue and a gradual recovery in tax revenue [1][3] Group 1: Fiscal Revenue - National general public budget revenue reached 115,566 billion yuan, a year-on-year decrease of 0.3%, with the decline narrowing by 0.8 percentage points compared to the first quarter [1] - Tax revenue for the first half was 92,900 billion yuan, down 1.2% year-on-year, but monthly tax revenue has shown growth for three consecutive months starting from April [1][3] - Major tax categories showed stable growth, with domestic VAT, domestic consumption tax, and individual income tax increasing by 2.8%, 1.7%, and 8% respectively [3] Group 2: Non-Tax Revenue - National non-tax revenue amounted to 22,700 billion yuan, with a year-on-year growth of 3.7%, but the growth rate fell by 5.1 percentage points compared to the first quarter [5][6] - Non-tax revenue saw declines in May and June, with decreases of 2.2% and 3.7% respectively [5] - Revenue from state-owned resources (assets) increased by 4.8%, while administrative fees grew by 1%, but the growth rate decreased by 4.5 percentage points compared to the first quarter [6] Group 3: Regional Revenue Performance - Most regions maintained revenue growth, with local general public budget revenue increasing by 1.6% in the first half [8] - Revenue growth varied by region, with eastern, central, western, and northeastern regions growing by 1.3%, 1.3%, 2%, and 5.7% respectively [8] - Out of 31 provinces, 27 achieved revenue growth [8] Group 4: Fiscal Expenditure - National general public budget expenditure reached 141,300 billion yuan, a year-on-year increase of 3.4% [10] - Expenditures in social security and employment, education, science and technology, and energy conservation and environmental protection all grew by over 5% [10] - Local government special bonds and ultra-long-term special treasury bonds contributed to a 30% increase in government fund budget expenditure, totaling 24,300 billion yuan [10]