大同混煤（大同产混煤，热值5800大卡）价格为735.7元/吨，较上期下跌54.5元/吨，跌幅6.9%。 焦煤（主焦煤，含硫量<1%）价格为1509.4元/吨，与上期持平。 数据显示，12月下旬无烟煤、动力煤价格均呈跌势，而且跌幅均继续扩大；炼焦煤价格开始企稳。 无烟煤（洗中块，挥发份≤8%）价格887.7元/吨，较上期下跌42.8元/吨，跌幅4.6%。 普通混煤（山西粉煤与块煤的混合煤，热值4500大卡）价格495.0元/吨，较上期下跌51.3元/吨，跌幅 9.4%。 山西大混（质量较好的混煤，热值5000大卡）价格为594.3元/吨，较上期下跌52.0元/吨，跌幅8.0%。 山西优混（优质的混煤，热值5500大卡）价格为697.7元/吨，较上期下跌51.5元/吨，跌幅6.9%。 国家统计局公布的数据显示，12月下旬，全国煤炭价格以跌为主，且跌幅继续扩大。各煤种具体价格变 化情况如下： 此外，12月下旬，全国焦炭（准一级冶金焦，12.01%≤灰分≤13.50%）价格1396.4元/吨，较上期下跌 58.3元/吨，跌幅4.0%。 ...

Core Viewpoint - The article analyzes the fiscal revenue and expenditure situation of various provinces in China for the first five months of 2025, highlighting the growth in public budget revenues in some provinces despite overall economic challenges [1]. Group 1: Fiscal Revenue Growth - Among the 17 provinces that disclosed their fiscal data, 15 experienced growth in general public budget revenue, with Jilin Province showing the highest growth rate of 15% [2]. - Jilin's non-tax revenue increased by 30.6%, driven by the activation of state-owned assets, particularly in resource utilization, which saw a 104.6% increase in revenue from the paid use of state resources [2]. - Qinghai Province followed Jilin with a revenue growth rate of 7.4%, also attributed to a significant rise in non-tax revenue, which grew by 60.2% [2]. Group 2: Challenges in Revenue Growth - Other provinces, such as Jiangsu and Beijing, reported modest revenue growth of less than 3%, primarily due to economic pressures, a sluggish real estate market, and complex foreign trade conditions [3]. - National tax revenue decreased by 1.6% in the first five months, reflecting broader economic challenges, although the decline has been narrowing month by month [3]. Group 3: Expenditure Trends - Despite low revenue growth, public budget expenditures in 17 provinces generally maintained an upward trend, with Shanghai recording the highest growth rate of 14.2% [5]. - The increase in expenditures is primarily focused on social welfare, education, and healthcare, indicating a prioritization of human investment [5]. - The fiscal imbalance is evident as expenditures in 16 provinces exceeded revenues, a situation that is expected to be addressed through central government transfers and debt financing [5][6]. Group 4: Land Sales and Government Fund Revenue - Government fund revenues, heavily reliant on land sales, have declined due to a sluggish real estate market, with land transfer income dropping by 11.9% year-on-year [7]. - Provinces like Shaanxi and Jilin experienced significant declines in land sale revenues, with decreases of approximately 42.3% and 33.5%, respectively [7]. - Analysts suggest that without new policies, the short-term outlook for government fund revenue will remain bleak, as the real estate market continues to show downward trends [7].