Summary of Key Points Core Viewpoint - The overall fiscal operation in China is stable in the first half of the year, with increased fiscal spending and good performance in certain industries' tax revenues [1][2]. 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 showed a gradual recovery, totaling 92,900 billion yuan, down 1.2% year-on-year, but monthly tax revenue has been growing for three consecutive months since April [1]. - Central general public budget revenue was 48,589 billion yuan, down 2.8%, while local general public budget revenue was 66,977 billion yuan, up 1.6%, with 27 out of 31 provinces reporting revenue growth [1]. Expenditure - National general public budget expenditure was 141,271 billion yuan, an increase of 3.4% year-on-year [2]. - Key areas of expenditure included: - Education: 21,483 billion yuan, up 5.9% - Science and technology: 4,790 billion yuan, up 9.1% - Social security and employment: 24,504 billion yuan, up 9.2% - Health: 11,004 billion yuan, up 4.3% [2]. - The central government allocated 667.4 billion yuan for employment subsidies and 1,566.8 billion yuan for assistance to vulnerable groups [2]. Government Fund Budget - National government fund budget revenue was 19,442 billion yuan, down 2.4%, while expenditure was 46,273 billion yuan, up 30% [2]. - The issuance and use of special bonds by local governments accelerated, with 24,300 billion yuan spent from special bonds in the first half of the year, contributing to the 30% growth in government fund budget expenditure [3]. - New local government special bonds issued amounted to 21,600 billion yuan, a 45% increase year-on-year, with 1,917 billion yuan used as project capital, up 16% [3].

财政部6月20日发布前5个月财政收支运行情况。 数据显示，全国一般公共预算支出持续增长，前5个月达112953亿元，同比增长4.2%。各级财政部门加 大支出强度，优化支出结构，持续加强对重点领域的支出保障。 收入方面，全国财政收入累计降幅略有收窄，前5个月全国一般公共预算收入达96623亿元，同比下降 0.3%。部分行业税收持续良好表现。 记者：申铖 海报制作：申铖 新华社国内部出品 【纠错】 【责任编辑:焦鹏】 ...

财政部7月25日发布数据显示，今年上半年，全国一般公共预算支出141271亿元，同比增长3.4%。 各级财政部门持续加强对重点领域的支出保障。跟随这组海报，一起了解下吧。 权履行漢 上半年财政收支情况 十年 和货 国民 财 IFA A 系共和國財政部 部 全国一般公共预算支出 141271亿元 同比增长3.4% 权威数读 新华社 上半年财政收支情况 各级财政部门 常委副正案 XTEET ISTORDS HATS 社会保障和就业支出同比增长9.2% 科学技术支出同比增长9.1% 教育支出同比增长5.9% 卫生健康支出同比增长4.3% 策划：令伟家 文案：曹建礼 制作：缪异星 【纠错】 【责任编辑:张欣然】 ...

Core Insights - The Ministry of Finance reported that from January to July 2024, the national general public budget revenue reached 135,663 billion yuan, with a comparable growth of approximately 1.2% after excluding special factors [1][2] - National general public budget expenditure for the same period was 155,463 billion yuan, reflecting a year-on-year increase of 2.5% [1][3] Revenue Analysis - The overall national general public budget revenue decreased by 2.6% year-on-year, but when adjusted for special factors, it showed a growth of 1.2% [2] - Tax revenue was impacted by various factors, with a 5.4% decline in total tax revenue. Notably, domestic value-added tax fell by 5.2%, while domestic consumption tax increased by 5.5% due to growth in sales of refined oil, cigarettes, and alcohol [2] - Export tax rebates amounted to 12,824 billion yuan, an increase of 1,632 billion yuan year-on-year, supporting foreign trade growth [2] Expenditure Analysis - National general public budget expenditure increased by 2.5% year-on-year, with significant growth in social security and employment (4.3%), agriculture, forestry, and water (8.2%), and urban and rural community spending (7.2%) [3] - The Ministry of Finance anticipates stable growth in public budget expenditure in the coming months, supported by macroeconomic policies and the gradual fading of special factors [3] Local Government Debt Management - From January to July, local governments issued 17,749 billion yuan in new special bonds, primarily for infrastructure projects in key areas identified by the central government [4] - The Ministry of Finance is working with relevant departments to accelerate the issuance and utilization of special bonds to enhance investment efficiency and support economic development [4] - Overall, local government debt risks are considered manageable, with a gradual reduction in hidden debt levels [5]

前8个月累计，全国一般公共预算支出149925亿元，同比下降2.1%。其中，中央一般公共预算本级支出 21276亿元，同比下降4.1%;地方一般公共预算支出128649亿元，同比下降1.7%。 政府性基金预算收支方面，前8个月累计，全国政府性基金预算收入47030亿元，同比增长2.3%;全国政 府性基金预算支出63889亿元，同比增长21.1%。 从主要税收收入项目来看，前8个月累计，国内增值税38086亿元，同比下降15.2%;国内消费税9822亿 元，同比下降5.7%;企业所得税29382亿元，同比下降5.3%;个人所得税7640亿元，同比增长5.9%;进口货 物增值税、消费税9552亿元，同比下降11.5%;关税1653亿元，同比下降12.8%。 财政支出方面，8月份，全国一般公共预算支出16426亿元，同比增长8.7%，主要是各地抓紧推进重大 项目实施，直达资金支出进度进一步加快。 财政部18日发布数据显示，8月份，全国一般公共预算收入达12043亿元，同比增长5.3%，增幅较7月份 提高1个百分点，连续3个月实现正增长。 前8个月累计，全国一般公共预算收入126768亿元，同比下降7.5%。其中，中 ...

Core Viewpoint - The fiscal revenue and expenditure in the second half of the year are under pressure, but the probability of additional deficits is low. The government is expected to utilize fiscal policy reserves to cover the revenue gap caused by childcare and elderly service subsidies [1][5][11]. Fiscal Revenue and Expenditure Analysis - In the first half of the year, the national fiscal revenue and expenditure deviated slightly from the initial budget, with revenue falling short by 463 billion yuan and expenditure by 1309 billion yuan for the general public budget [2][6]. - The central government's general public budget revenue decreased by 3.5% year-on-year, while expenditure increased by 6.9%. Local governments showed a revenue increase of 3.0% and expenditure increase of 3.7% [3][6]. - For the second half of the year, the expected year-on-year growth rates for the general public budget are -4.5% for revenue and 1.5% for expenditure, leading to a projected revenue shortfall of 516.6 billion yuan and an expenditure shortfall of 547.2 billion yuan compared to the budget [5][11]. Budget Execution and Adjustments - Historically, the completion rate for the general public budget has been over 98%, and significant deviations typically necessitate budget adjustments or additional deficits. However, the flexibility of the special fund budget allows for a completion rate of 80%-90% without strict requirements [2][5]. - The government plans to cover the expected 1200 billion yuan revenue gap from subsidies without increasing the budget by utilizing reserves, including the budget stabilization fund and profits from central financial enterprises [11][12]. Central Financial Enterprises' Role - The profits from central financial enterprises are crucial for offsetting revenue shortfalls. In 2024, these enterprises contributed significantly to the budget, with non-tax revenue showing substantial increases in late 2024 [7][12]. - The central budget stabilization fund had a balance of 2739.22 billion yuan at the end of 2024, with plans to allocate 1000 billion yuan in 2025, leaving a remaining balance of 1739.22 billion yuan [12].

Core Viewpoint - The fiscal revenue and expenditure in the second half of the year will face pressure, but the probability of additional deficits is low. It is expected that fiscal policy reserves will be utilized to cover the revenue shortfall caused by the issuance of childcare and elderly service consumption subsidies [2][6][11]. Group 1: Fiscal Revenue and Expenditure Overview - In the first half of the year, the deviation of fiscal revenue and expenditure from the budget was limited, with national revenue falling short of the initial budget by 463 billion and expenditure lower by 1309 billion for the general public budget [4][6]. - The revenue and expenditure growth rates for the general public budget in the first half of 2025 were -0.3% and 3.4%, respectively, while the government fund revenue and expenditure growth rates were -2.4% and 30.0% [5][7]. Group 2: Projections for the Second Half of the Year - For the second half of the year, the expected growth rates for the general public budget revenue and expenditure are -4.5% and 1.5%, respectively, with a projected revenue shortfall of 516.6 billion and an expenditure shortfall of 547.2 billion compared to the budget [6][11]. - The second half of the year is anticipated to see government fund revenue and expenditure growth rates of -2.5% and 11.4%, respectively, with a budget shortfall exceeding 500 billion [6][11]. Group 3: Budget Management Strategies - In 2024, the highest deviation of the general public budget revenue from the budget reached 915.6 billion, but no additional deficit was added. Instead, measures such as strengthening tax collection and activating existing assets were employed to catch up with the budget [9][11]. - The central budget stabilization fund had a balance of 273.9 billion at the end of 2024, with 100 billion planned to be transferred in 2025, leaving a remaining balance of 173.9 billion [12].

财政部25日发布数据显示，今年上半年，全国一般公共预算收入115566亿元，同比下降0.3%。 分中央和地方看，中央一般公共预算本级支出19914亿元，同比增长9%；地方一般公共预算支出121357 亿元，同比增长2.6%。 从主要支出科目看，上半年，教育支出21483亿元，同比增长5.9%；科学技术支出4790亿元，同比增长 9.1%；文化旅游体育与传媒支出1738亿元，同比增长5%；社会保障和就业支出24504亿元，同比增长 9.2%；卫生健康支出11004亿元，同比增长4.3%；节能环保支出2556亿元，同比增长5.9%。 全国政府性基金预算收支方面，上半年，全国政府性基金预算收入19442亿元，同比下降2.4%；全国政 府性基金预算支出46273亿元，同比增长30%。(申铖、欧阳剑环) 分中央和地方看，上半年，中央一般公共预算收入48589亿元，同比下降2.8%；地方一般公共预算本级 收入66977亿元，同比增长1.6%。 财政支出方面，上半年，全国一般公共预算支出141271亿元，同比增长3.4%。 ...

周至县财政局公布的数据显示，截至6月底，全县地方一般公共预算收入累计完成14646万元，完成预算的55.7%，同比增长3.1%。其中：税收收 入完成9120万元，同比增长68.8%，税收占比62.3%；非税收入完成5526万元，同比下降41.4%。全县政府性基金收入完成5078万元，完成预算的 5.8%，同比增长65.7%。 近日，陕西省西安市周至县公布2025年1-6月财政收支情况。2025年前6个月，周至县地方一般公共预算收入累计完成14646万元，其中税收占比 62.3%；一般公共预算支出累计完成231857万元。 | 索引号 | 2025-005172 | 发布日期 | 2025-07-30 10:42 | 来 | | --- | --- | --- | --- | --- | | | 截至6月底，全县地方一般公共预算收入累计完成14646万元，完成预算55.7%，同比增长3.1%，其中税收和非税收入有不同变化；政府性 | | | | | 内容概述 | 基金收入完成5078万元，完成预算5.8%，同比增长65.7%。一般公共预算支出累计完成231857万元，完成调整预算60.6%，同比下降 | | | ...

当前，我国财政收支情况如何？近日，财政部发布了上半年的财政收支数据，具体包括一般公共预算收 支情况，个人所得税、房产税等主要税收收入项目情况，社保、教育、卫生等主要支出科目情况，政府 性基金预算收支情况、央地财政收支情况等。为进一步分析我国财力并剖析数据背后的真实场景， 7月28日，一则国家育儿补贴制度实施方案发布的消息引发社会关注：从2025年1月1日起，对3周岁以下 婴幼儿发放补贴，至其年满3周岁，每孩每年3600元。有网友直呼："国家真的发钱了！" 钱从哪里来？上述方案规定由中央和地方财政共同承担。对此，有网友问道："当前财力能否支撑这样 一笔不小的支出？" ...