Group 1: Fiscal Revenue - The overall fiscal operation is stable, with some industries showing good tax revenue performance [1] - National general public budget revenue for the first half of the year 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 is gradually recovering, with national tax revenue at 92,900 billion yuan, down 1.2% year-on-year, but showing growth for three consecutive months since April [1] Group 2: Fiscal Expenditure - National general public budget expenditure for the first half of the year was 141,271 billion yuan, an increase of 3.4% year-on-year [2] - Key areas of expenditure, such as education, science and technology, social security, and health, received significant funding, with education spending at 21,483 billion yuan (up 5.9%), science and technology at 4,790 billion yuan (up 9.1%), social security at 24,504 billion yuan (up 9.2%), and health at 11,004 billion yuan (up 4.3%) [2] - The government has prioritized social security in its fiscal spending, with central finance allocating 66.74 billion yuan for employment subsidies and 156.68 billion yuan for assistance to vulnerable groups [2] Group 3: Government Bond Issuance - Local government special bonds and other financial instruments saw significant spending, with 24,300 billion yuan allocated in the first half of the year, driving a 30% increase in government fund budget expenditure [3] - New local government special bonds issued in the first half of the year totaled 21,600 billion yuan, a year-on-year increase of 45% [3] - The Ministry of Finance is working to optimize the management of special bonds to enhance their effectiveness in supporting infrastructure and public welfare projects [3]
【新华解读】运行总体平稳 支出力度加大——详解上半年全国财政收支运行
Xin Hua She·2025-07-25 15:56