【粤开宏观】1949-2024年中国各省份财政收入排名变迁

Fiscal Revenue Growth - In 2024, national general public budget revenue grew by 1.3% year-on-year, while local general public budget revenue increased by 1.7%[1] - The growth rates for fiscal revenue in different regions were: Northeast (6.2%), West (3.2%), Central (1.8%), and East (0.8%)[9] Regional Disparities - Western provinces showed faster fiscal revenue growth compared to Eastern and Central regions, driven by the importance of energy security and the Belt and Road Initiative[2] - In 2024, the top five provinces by fiscal revenue were Guangdong (13,533 billion), Jiangsu (10,038 billion), Zhejiang (8,706 billion), Shanghai (8,374 billion), and Shandong (7,711 billion)[10] Economic Challenges - The slowdown in fiscal revenue growth is attributed to insufficient effective demand, price declines, and tax incentives in the real estate sector[1] - Multiple provinces experienced negative growth in VAT and corporate income tax revenues due to various economic pressures, including declining industrial profits and resource tax revenues[1] Historical Context - Since 1949, China's fiscal revenue has evolved significantly, with major changes occurring post-1978 and 1994 due to reforms in the fiscal system[2] - The fiscal revenue ranking has shifted, with Guangdong maintaining the top position for 34 consecutive years, reaching 1.35 trillion in 2024 despite challenges[7] Future Outlook - A more proactive fiscal policy is anticipated for 2025 to address ongoing economic uncertainties and structural tax reductions[1] - The long-term effects of incremental policy changes are expected to gradually enhance fiscal revenue potential and stabilize local finances[1]