Core Insights - The Ministry of Finance reported that in the first three quarters, national fiscal expenditure reached 20.81 trillion yuan, representing a year-on-year increase of 3.1% [1] Group 1: Fiscal Expenditure Overview - National fiscal expenditure for the first three quarters amounted to 20.81 trillion yuan, showing a growth of 3.1% compared to the previous year [1] Group 2: Key Areas of Spending - Expenditure in key livelihood areas grew significantly, with social security and employment spending increasing by 10%, and education spending rising by 5.4%, both marking the highest levels for the same period in the last three years [1]

Core Viewpoint - The Ministry of Finance reported that fiscal policy has become more proactive in the first three quarters of this year, with steady recovery in fiscal revenue and maintained necessary fiscal expenditure, ensuring basic livelihood and key areas are well-funded, leading to overall stable fiscal operations [1] Fiscal Revenue - National general public budget revenue reached 16.39 trillion yuan, a year-on-year increase of 0.5%. The revenue showed a quarterly recovery, with a decline of 1.1% in Q1, a growth of 0.6% in Q2, and a significant increase of 2.5% in Q3 [2] - Tax revenue, as the main component of fiscal income, grew steadily by 0.7% year-on-year. The domestic value-added tax, the largest tax type, increased by 3.6%, outperforming the general public budget revenue growth by 3.1 percentage points [2] - Non-tax revenue saw a decline of 0.4% year-on-year, with state resource usage income increasing by 4%, while penalty income dropped by 7% [2] Local Revenue - Local general public budget revenue increased by 1.8% year-on-year, with 27 out of 31 regions maintaining positive growth, despite some areas affected by falling prices of major commodities [3] Fiscal Expenditure - National general public budget expenditure reached 20.81 trillion yuan, a year-on-year increase of 3.1%. Key areas such as social security and employment saw a 10% increase, while education and health expenditures grew by 5.4% and 4.7%, respectively [3] Government Bonds - Government bonds played a crucial role in implementing a more proactive fiscal policy, with expenditures from various bonds totaling 4.21 trillion yuan in the first three quarters [4] - The Ministry of Finance plans to continue to advance the new local government debt limits for 2026, facilitating project funding needs [4] Disaster Relief Support - The Ministry of Finance has established a rapid fund allocation mechanism for disaster relief, ensuring timely support for local governments in response to natural disasters [5][6] - A total of 105 billion yuan has been allocated for disaster relief efforts, with additional support from insurance mechanisms for agricultural and residential disaster insurance [6]

Core Insights - The Ministry of Finance reported that the national general public budget revenue for the first three quarters reached 16.39 trillion yuan, reflecting a year-on-year growth of 0.5% [1] - The fiscal revenue growth has shown a gradual recovery, indicating a stable and improving economic performance [1] - Total national general public budget expenditure for the same period was 20.81 trillion yuan, with a year-on-year increase of 3.1% [1] Revenue and Expenditure Breakdown - Social security and employment expenditures increased by 10%, while education expenditures rose by 5.4% [1] - Health and wellness expenditures grew by 4.7%, and scientific and technological expenditures increased by 6.5%, demonstrating strong support for key areas [1] - The effects of large-scale equipment renewal policies continue to be released, with tax revenue from the computer and communication equipment manufacturing industry growing by 12% [1] - Tax revenue from the electrical machinery and equipment manufacturing industry increased by 8.3%, and the cultural, sports, and entertainment industry saw a tax revenue growth of 5.5% [1]

Group 1 - In the third quarter of this year, China's fiscal revenue growth significantly increased compared to the previous quarter, with multiple key areas of fiscal expenditure reaching the highest level in nearly three years [1] - For the first three quarters, the national general public budget revenue was 163,876 billion yuan, a year-on-year increase of 0.5%, with a notable growth of 2.5% in the third quarter [1] - Tax revenue, as the main component of fiscal income, increased by 0.7% year-on-year in the first three quarters, with domestic value-added tax growing by 3.6% and corporate income tax increasing by 0.8% [1] Group 2 - The revenue from securities transaction stamp duty reached 1,448 billion yuan in the first three quarters, reflecting a year-on-year increase of approximately 100%, indicating a recovery in market confidence [2] - National general public budget expenditure for the first three quarters was 20.81 trillion yuan, a year-on-year increase of 3.1%, while government fund budget expenditure saw a significant growth of 23.9% [2] - The Ministry of Finance announced two measures to support economic recovery, including an increase of 1,000 billion yuan in the allocation of local government debt limits and the early issuance of new local government debt limits for 2026 [2] Group 3 - In 2024, the central government arranged a local government debt limit of 4,000 billion yuan, with an increase in both the scale and scope of support compared to the previous year [3] - The allocation of the debt limit aims to support local governments in resolving existing investment project debts and addressing overdue payments to enterprises, thereby reinforcing economic recovery [3] - Early issuance of the new debt limits is expected to ensure the progress of key project constructions and stabilize the local government bond market [3]

Core Insights - China's fiscal revenue for the first three quarters of the year reached 163,876 billion yuan, showing a year-on-year growth of 0.5%, with tax revenue contributing 132,664 billion yuan and a growth of 0.7% [1][2] Group 1: Fiscal Revenue Trends - The growth rate of fiscal revenue has been increasing quarterly, with a decline of 1.1% in Q1, a recovery to 0.6% in Q2, and a notable increase of 2.5% in Q3 [1] - In Q3, tax revenue showed steady growth, with domestic value-added tax increasing by 3.6% and corporate income tax rising by 0.8%, indicating a recovery in industrial profits [1] Group 2: Non-Tax Revenue and Expenditure - Non-tax revenue for the first three quarters was 31,212 billion yuan, reflecting a decline of 0.4%, with a significant drop in penalty income by 7% [2] - Total public budget expenditure reached 208,064 billion yuan, marking a year-on-year increase of 3.1%, with the highest growth rates in social security, education, and health sectors in three years [2] Group 3: Government Fund Budget - The decline in government fund budget revenue narrowed by 1.9 percentage points compared to the first half of the year, while expenditure grew by 23.9%, driven by accelerated use of bond funds [2] - A total of 42,100 billion yuan was spent from various government bonds, enhancing economic momentum and supporting ongoing economic recovery [2]

从数据上看，前三季度，全国一般公共预算支出20.81万亿元，同比增长3.1%。其中，社会保障和就业 支出增长10%，教育支出增长5.4%，卫生健康支出增长4.7%，科学技术支出增长6.5%，节能环保支出 增长8.8%，文化旅游体育与传媒支出增长4%。上述6项支出增幅均为近三年同期最高水平。 在减灾救灾方面，财政部和应急管理、农业、水利、交通等部门密切联动，建立了中央财政救灾资金快 速核拨机制，开辟了资金拨付的"绿色通道"。财政部自然资源和生态环境司司长濮剑鹏介绍，今年以来 已启动16次快速核拨机制。 "2025年安排中央救灾资金近350亿元，切实保障救灾工作需要。截至目前，已据实拨付105亿元，全力 帮助人民群众抗灾救险、恢复生产和生活。"濮剑鹏表示，在各方面共同努力下，我国已基本实现航空 救援力量2小时内到达、抢险救灾物资12小时内到位、受灾人员基本生活10小时内得到有效救助。 【纠错】 【责任编辑:谷玥】 新华社北京10月17日电（记者刘开雄、申铖）记者17日从财政部获悉，前三季度，全国一般公共预算收 入16.39万亿元，同比增长0.5%。分季度看，一季度下降1.1%；二季度由降转升，增长0.6%；第三季 ...

财政支出方面，唐龙生表示，财政支出靠前发力，重点领域支出保障有力。今年以来，财政部门加强资 源统筹，加大支出强度，优化支出结构，民生、科技等国家重大战略领域得到较好保障。前三季度，全 国一般公共预算支出20.81万亿元，同比增长3.1%。其中，社会保障和就业支出增长10%，教育支出增 长5.4%，卫生健康支出增长4.7%，科学技术支出增长6.5%，节能环保支出增长8.8%，文化旅游体育与 传媒支出增长4%。上述6项支出增幅均为近三年同期最高水平。 财政部国库支付中心副主任唐龙生10月17日在财政部召开的2025年前三季度财政收支情况新闻发布会上 介绍，今年以来，各地区各部门认真落实更加积极有为的宏观政策，迎难而上、沉着应对，我国经济运 行顶住压力、稳中有进，展现出强大韧性和活力。财政政策更加积极、接续发力，着力稳就业、稳企 业、稳市场、稳预期，保持必要支出强度，加大对基本民生和重点领域的经费保障，财政运行总体平稳 有序。 唐龙生介绍，财政收入增幅逐季回升。前三季度，全国一般公共预算收入16.39万亿元，同比增长 0.5%。分季度看，一季度下降1.1%；二季度由降转升，增长0.6%；进入第三季度，7月份增长2. ...

Core Insights - National general public budget revenue for the first three quarters reached 163,876 billion yuan, a year-on-year increase of 0.5%, with the growth rate expanding by 0.2 percentage points compared to the first eight months [1] - Tax revenue for the first three quarters was 132,664 billion yuan, up 0.7% year-on-year, while non-tax revenue decreased by 0.4% to 31,212 billion yuan [2] - General public budget expenditure for the first three quarters was 208,064 billion yuan, a year-on-year increase of 3.1%, with central government expenditure rising by 7.3% and local government expenditure increasing by 2.4% [2] Revenue Breakdown - Central government general public budget revenue was 70,837 billion yuan, down 1.2% year-on-year, while local government revenue was 93,039 billion yuan, up 1.8% [1] - Government fund budget revenue for the first three quarters was 30,717 billion yuan, a decrease of 0.5% year-on-year, with central government fund revenue increasing by 0.7% and local government fund revenue decreasing by 0.6% [5] Expenditure Insights - Social security and employment expenditure, agricultural and forestry expenditure, and energy conservation and environmental protection expenditure saw significant growth, increasing by 10%, 9%, and 8.8% respectively [3] - The Ministry of Finance plans to expedite the use of special bonds and other financial tools to support major project construction and address issues like debt defaults [5][6] Policy Considerations - The Ministry of Finance will continue to advance the 2026 new local government debt limit, focusing on major strategic projects and addressing hidden debt issues [6] - Market expectations for growth stabilization policies have increased, with a focus on fiscal priorities beyond infrastructure, including childcare subsidies and urban renewal [5]

Core Insights - The national general public budget revenue for the first three quarters reached 163,876 billion yuan, reflecting a year-on-year growth of 0.5%, indicating a positive trend in China's economy [1] - Tax revenue, a key component of the budget, amounted to 132,664 billion yuan, with a growth rate of 0.7%, showcasing resilience despite challenges in the economic environment [1] Revenue Breakdown - The domestic value-added tax, the largest tax type, grew by 3.6% year-on-year, outperforming the overall budget revenue growth by 3.1 percentage points [2] - Corporate income tax increased by 0.8%, with a notable acceleration of 2.7 percentage points compared to the first half of the year, reflecting improved market vitality and industrial profits [2] - Non-tax revenue totaled 31,212 billion yuan, showing a decline of 0.4%, with specific items like state-owned resource usage income increasing by 4% while penalty income dropped by 7% [2] Regional Performance - Local public budget revenue grew by 1.8% year-on-year, with 27 out of 31 regions experiencing positive growth, indicating overall stability in local finances [3] Government Fund Revenue - Government fund revenue, primarily from land sales, reached 30,717 billion yuan, down by 0.5%, with land use rights income declining by 4.2% [4] - The government is accelerating funding through bond issuance, with net financing of government bonds amounting to 11.46 trillion yuan, an increase of 4.28 trillion yuan year-on-year [4] Expenditure Insights - General public budget expenditure for the first three quarters was 20.81 trillion yuan, reflecting a year-on-year increase of 3.1%, with significant growth in social security, education, and environmental protection spending [5] - Government fund expenditure rose by 23.9% to 7.49 trillion yuan, driven by the effective use of bond funds [5][6]

前三季度地方政府专项债券、超长期特别国债、中央金融机构注资特别国债等资金共支出4.21万亿元 （含以往年度结转债券支出），增强经济发展动能，推动经济持续回升向好。 为进一步发挥积极财政政策效能，保障重点领域重大项目资金需求，财政部将继续提前下达2026年新增 地方政府债务限额，支持重点项目2026年一季度建设资金需求，支持各地按规定化解存量隐性债务和解 决政府拖欠企业账款，巩固拓展经济回升向好势头。结合当前财政经济运行情况，中央财政从地方政府 债务结存限额中安排5000亿元下达地方，有力支持地方完成今年经济社会发展目标任务。 （文章来源：央视新闻） 财政部今天发布的数据显示，前三季度，全国财政收入16.39万亿元，同比增长0.5%，其中，第三季度 同比增长2.5%，增幅明显提高，反映出当前经济运行总体平稳、稳中有升的态势。 前三季度，全国财政支出20.81万亿元，同比增长3.1%。 财政支出靠前发力，重点领域支出保障有力，民生、科技等国家重大战略领域得到较好保障。社会保障 和就业、教育、卫生健康、科学技术、节能环保、文化旅游体育与传媒等6项支出增幅均为近三年同期 最高水平。 ...