Group 1 - The overall fiscal operation in China is stable, with a total public budget revenue of 11.56 trillion yuan in the first half of the year, a year-on-year decrease of 0.3%, but the decline has narrowed by 0.8 percentage points compared to the first quarter [1] - Tax revenue is gradually recovering, with a total tax revenue of 9.29 trillion yuan in the first half, down 1.2% year-on-year, but showing monthly growth for three consecutive months starting from April [1] - Major tax categories such as domestic VAT, domestic consumption tax, and individual income tax have shown stable growth rates of 2.8%, 1.7%, and 8% respectively [1] Group 2 - Non-tax revenue growth has slowed, with a total of 2.27 trillion yuan in the first half, a year-on-year increase of 3.7%, which is a decline of 5.1 percentage points compared to the first quarter [2] - Local public budget revenue has increased by 1.6% in the first half, with 27 out of 31 provinces achieving growth [2] Group 3 - Fiscal expenditure has increased, with total public budget expenditure reaching 14.13 trillion yuan in the first half, a year-on-year growth of 3.4% [3] - Key areas such as social security and employment, education, and health have seen significant increases in expenditure, with growth rates of 9.2%, 5.9%, and 4.3% respectively [3] - The issuance and use of bond funds have accelerated, with 2.43 trillion yuan spent on government special bonds in the first half, driving a 30% increase in government fund budget expenditure [3]
今年以来财政运行总体平稳 财政支出力度持续加大
Sou Hu Cai Jing·2025-07-25 11:01