10月税收增长8.6％，拉动财政收入持续回升

Group 1 - The core viewpoint of the article highlights a significant rebound in tax revenue growth, contributing to an increase in fiscal revenue in October [2][4] - From January to October, the national general public budget revenue reached 18.65 trillion yuan, a year-on-year increase of 0.8%, with October alone seeing a revenue of 2.26 trillion yuan, up 3.2% compared to September [2][5] - Tax revenue in October amounted to 2.07 trillion yuan, growing by 8.6%, which is a key driver for fiscal income [2][5] Group 2 - The increase in tax revenue is attributed to a stable economy, with resilient production and consumption, leading to improved corporate performance and higher tax contributions [2][5] - Major tax categories showed varied growth, with domestic VAT, consumption tax, corporate income tax, and personal income tax increasing by 4%, 2.4%, 1.9%, and 11.5% respectively [5][6] - Stamp duty revenue surged by 29.5% to 378.1 billion yuan, driven by an active capital market, with securities transaction stamp duty increasing by 88.1% [5][6] Group 3 - Non-tax revenue has seen a significant decline, with a year-on-year drop of 3.1% for the first ten months, and a notable decrease of 33% in October alone [6][7] - Government fund budget revenue for the first ten months was 3.45 trillion yuan, down 2.8%, indicating pressure on land finance due to negative growth in land transfer income [7][8] - General fiscal expenditure growth has slowed, with a total of 22.58 trillion yuan spent from January to October, a 2% increase, and a significant drop in October's expenditure by 9.78% [9][10] Group 4 - The article emphasizes the need for policy continuity to support economic stability, with expectations for proactive fiscal policies in 2026, including a deficit rate of around 4% and a total fiscal expenditure of approximately 43 trillion yuan [3][10] - The current fiscal spending pace is slower than usual, with infrastructure and social spending growth rates declining [9][10] - The focus for the upcoming period is on accelerating the implementation of existing policies to generate tangible outcomes [10]