中经记者 杜丽娟 北京报道 在经济回升向好态势支撑下，财政收入的稳步增长为高质量发展提供坚实财力保障。 和税收收入同比增长形成对比的是，2025年1—11月，非税收入35702亿元，同比下降3.7%。"临近年 底，非税收入同比下降主要受部分行政事业性收费规范调整影响，总体看，税收和非税收入一升一降说 明财政收入结构不断优化，未来发展也更趋健康可持续。"中国政法大学财税法研究中心主任施正文 说。 在税收收入项目中，主要税种表现呈现结构性亮点。国内增值税作为第一大税种，2025年前11个月收入 为63629亿元，同比增长3.9%。 《中国经营报》记者从国家税务总局获悉，今年以来，在减税降费等相关政策有力推动下，我国制造业 高质量发展态势良好。发票数据显示，1—11月，装备制造业销售收入同比增长8.3%，特别是计算机通 信设备制造业、仪器仪表制造业销售收入同比分别增长12.3%和10.3%，反映了制造业高端化加速推 进，也印证了实体经济复苏动能增强。 今年以来，财政支出保持适度增长，聚焦重点领域，保障民生与发展。1—11月全国一般公共预算支出 248538亿元，同比增长1.4%。分中央和地方看，中央一般公共预算本级 ...

Group 1 - The national general public budget revenue for the first 11 months of the year reached 20.05 trillion yuan, with a growth rate of 0.8%, maintaining the same growth rate as the previous 10 months [1] - Tax revenue amounted to 16.48 trillion yuan, growing by 1.8%, with an increase of 0.1 percentage points compared to the first 10 months [1] - The domestic value-added tax and domestic consumption tax grew by 3.9% and 2.5% respectively, while personal income tax increased by 11.5%, consistent with the growth rate from the first 10 months [1] Group 2 - The performance of personal income tax has been notably strong, likely due to the active capital market and increased wealth effect, with capital market-related tax revenues also seeing significant growth [2] - Corporate income tax revenue reached 402.34 billion yuan, with a year-on-year growth of 1.7%, indicating a recovery in corporate earnings supported by various factors [2] - The equipment manufacturing and modern service industries showed strong tax revenue performance, with the computer and communication equipment manufacturing sector growing by 14.1% and the electrical machinery sector by 7.9% [2] Group 3 - The manufacturing sector continues to play a stabilizing role, with tax revenue from manufacturing maintaining a stable share of around 30% [3] - High-tech industry sales revenue increased by 14.7%, with smart device manufacturing sales growing by 28.2%, reflecting rapid growth in innovation-driven sectors [3] - General public budget expenditure for the first 11 months reached 24.85 trillion yuan, growing by 1.4%, with significant spending in social security and employment, education, and health sectors [3]

Group 1 - The national general public budget revenue for the first 11 months of the year reached 20.05 trillion yuan, with a growth rate of 0.8%, maintaining the same growth rate as the previous 10 months [1] - Tax revenue amounted to 16.48 trillion yuan, growing by 1.8%, which is an increase of 0.1 percentage points compared to the first 10 months [1] - The performance of major tax categories showed steady growth, with domestic VAT and domestic consumption tax increasing by 3.9% and 2.5% respectively, while personal income tax grew by 11.5% [1][2] Group 2 - The active performance of the capital market has positively influenced personal income tax, with significant increases in taxes from stock transfers and dividends, contributing to a 9.3% year-on-year growth in personal income tax [2] - Corporate income tax revenue for the first 11 months was 402.34 billion yuan, reflecting a year-on-year increase of 1.7%, attributed to economic recovery and policy effects [2] - The manufacturing sector continues to play a crucial role, with tax revenue from this sector stabilizing at around 30% of total tax revenue [3] Group 3 - High-tech industries saw a sales revenue increase of 14.7%, with smart device manufacturing experiencing a remarkable growth of 28.2% [3] - General public budget expenditure for the first 11 months reached 24.85 trillion yuan, growing by 1.4%, with significant allocations for social security, education, and health care [3] - Government fund budget revenue decreased by 4.9% to 4.03 trillion yuan, while expenditure increased by 13.7% to 9.21 trillion yuan, driven by accelerated use of bond funds [3] Group 4 - The central government allocated 500 billion yuan to support local government debt, which is expected to inject new momentum into economic development and help achieve annual economic and social development goals [4]

Core Viewpoint - The fiscal revenue and expenditure data for the first 11 months of 2025 indicates stable growth in public budget revenue, with tax revenues from key sectors like equipment manufacturing and modern services performing well [1][2]. Revenue Summary - Total public budget revenue reached 20.05 trillion yuan, growing by 0.8%, maintaining the same growth rate as the previous 10 months [2]. - Tax revenue amounted to 16.48 trillion yuan, with a growth of 1.8%, an increase of 0.1 percentage points compared to the first 10 months [2]. - Key tax categories showed positive growth: domestic VAT increased by 3.9%, domestic consumption tax by 2.5%, and personal income tax by 11.5% [2]. - The active capital market contributed to the notable performance of personal income tax, with significant increases in capital market-related tax revenues, including a 70.7% rise in securities transaction stamp duty [2][3]. Corporate Income Tax Insights - Corporate income tax revenue reached 402.34 billion yuan, reflecting a year-on-year growth of 1.7% [2]. - The recovery in corporate income tax is attributed to economic recovery, policy effects, and a low base from previous years [3]. - The manufacturing sector continues to play a stabilizing role, with tax revenue from this sector maintaining around 30% of total tax revenue [3]. Sector Performance - The equipment manufacturing and modern services sectors showed strong tax revenue performance, with specific growth rates: computer and communication equipment manufacturing at 14.1%, electrical machinery at 7.9%, and scientific research and technical services at 14.6% [3]. - High-tech industries reported a sales revenue increase of 14.7%, with smart device manufacturing sales growing by 28.2% [3]. Expenditure Summary - Total public budget expenditure reached 24.85 trillion yuan, growing by 1.4%, with significant spending in social security and employment (8.1% growth), education (4.4% growth), and health (4.7% growth) [4]. - Expenditures related to infrastructure showed a declining trend, with urban and rural community spending and agricultural spending decreasing year-on-year [4]. - Government fund budget revenue was 4.03 trillion yuan, down by 4.9%, while expenditures increased by 13.7%, driven by accelerated use of bond funds [4]. Fiscal Policy Impact - The central government allocated 500 billion yuan to support local government debt, which is expected to inject new momentum into economic development and assist localities in achieving their annual economic and social development goals [4].

Core Viewpoint - The article discusses the stable growth of China's fiscal revenue and expenditure in the first 11 months of 2025, highlighting the performance of various tax revenues and the focus on social welfare spending. Group 1: Fiscal Revenue - In the first 11 months of 2025, the national general public budget revenue reached 20.05 trillion yuan, an increase of 0.8%, maintaining the same growth rate as the previous 10 months [1] - Tax revenue amounted to 16.48 trillion yuan, growing by 1.8%, with an increase of 0.1 percentage points compared to the first 10 months [1] - Major tax categories showed positive growth, with domestic VAT and consumption tax increasing by 3.9% and 2.5% respectively, while personal income tax rose by 11.5% [1][2] Group 2: Personal Income Tax and Corporate Tax - The performance of personal income tax has been notably strong, attributed to the active capital market and increased wealth effect, with a year-on-year growth of 9.3% driven by stock transfers and related income [2] - Corporate income tax revenue reached 402.34 billion yuan, showing a year-on-year increase of 1.7%, indicating a recovery in the economy supported by policy effects and improved corporate profitability [2] Group 3: Industry Performance - The equipment manufacturing and modern service industries demonstrated strong tax revenue performance, with specific sectors like computer communication equipment manufacturing and scientific research services growing by 14.1% and 14.6% respectively [2][3] - The manufacturing sector continues to play a stabilizing role, with tax revenue from this sector maintaining around 30% of total tax revenue [3] Group 4: Fiscal Expenditure - National general public budget expenditure for the first 11 months was 24.85 trillion yuan, an increase of 1.4%, with significant spending in social welfare areas [3] - Social security and employment expenditures grew by 8.1%, education spending increased by 4.4%, and health spending rose by 4.7%, while infrastructure-related expenditures showed a declining trend [3] Group 5: Government Fund Budget - Government fund budget revenue was 4.03 trillion yuan, a decrease of 4.9%, while expenditures increased by 13.7% to 9.21 trillion yuan, driven by accelerated use of bond funds [4] - Central government allocated 500 billion yuan to support local government debt, which is expected to inject new momentum into economic development [4]

Group 1 - The core viewpoint of the articles highlights the stability in China's fiscal revenue and expenditure for the first eleven months of 2025, with a slight increase in tax revenues and a focus on social welfare spending [1][3][4] - National general public budget revenue reached 20.05 trillion yuan, with a year-on-year growth of 0.8%, maintaining the same growth rate as the previous ten months [1] - Tax revenue amounted to 16.48 trillion yuan, showing a growth of 1.8%, with domestic value-added tax and domestic consumption tax increasing by 3.9% and 2.5% respectively [1][2] Group 2 - Personal income tax showed a notable increase of 11.5%, attributed to the active performance of the capital market and the resulting wealth effect [2] - Corporate income tax revenue reached 402.34 billion yuan, with a year-on-year growth of 1.7%, indicating a recovery in corporate earnings supported by various economic factors [2][3] - The manufacturing sector continues to play a crucial role, with tax revenue from this sector stabilizing around 30% of total tax revenue, and high-tech industries experiencing a sales revenue growth of 14.7% [3] Group 3 - General public budget expenditure for the first eleven months was 24.85 trillion yuan, reflecting a year-on-year increase of 1.4%, with significant allocations towards social security, education, and health care [3] - The government fund budget revenue decreased by 4.9% to 4.03 trillion yuan, while expenditures increased by 13.7% to 9.21 trillion yuan, driven by accelerated use of bond funds [3] - Central government allocated 500 billion yuan to support local government debt, which is expected to inject new momentum into economic development [4]

Economic Performance - The latest tax revenue data indicates that China's economy is showing steady progress with strong momentum for high-quality development, driven by a series of incremental and stock policies [1] - In the first 11 months, the total tax revenue exceeded 29 trillion yuan, with tax revenue (excluding export tax rebates) surpassing 16 trillion yuan, reflecting a year-on-year growth of 3.1% [1] Corporate Investment - In the first 11 months, the amount spent by enterprises on purchasing machinery and equipment increased by 10.7% year-on-year, indicating a stronger investment in equipment [1] - The number of active enterprises in the first 10 months grew by 9.8% year-on-year, with their proportion of total enterprises increasing by 4.7 percentage points [1] Consumer Spending - Sales revenue in the home appliance and communication retail sectors, supported by the old-for-new consumption policy, increased by 26.5% and 20.3% year-on-year, respectively, demonstrating the ongoing effects of consumption promotion policies [1] Export Resilience - The tax authorities processed export tax rebates that increased by 6.8% year-on-year, showcasing the resilience of Chinese enterprises in maintaining good growth amid complex international trade conditions [1] Manufacturing Sector - The manufacturing sector continues to play a stabilizing role, with tax revenue from manufacturing remaining stable at around 30% [2] - Sales revenue in the equipment manufacturing sector grew by 8.3% year-on-year, with significant growth in computer and communication equipment manufacturing (12.3%) and instrument manufacturing (10.3%) [2] Technological Innovation - The role of technological innovation is increasingly significant, with high-tech industry sales revenue rising by 14.7% year-on-year, supported by tax reductions and rebates totaling 23.725 billion yuan in the first 10 months [2] - The procurement of automation equipment by manufacturing enterprises increased by 14.2%, and spending on digital technology rose by 11.2%, indicating a deepening integration of digital technology with manufacturing [2] Energy Sector - Sales revenue in the clean energy sector, including wind, solar, and hydropower, grew by 14.9% year-on-year, reflecting the acceleration of green transformation in China's energy structure [2]

Economic Performance - The sales revenue of high-tech industries increased by 14.7% year-on-year, with smart equipment manufacturing sales rising by 28.2% [1][2] - Manufacturing tax revenue remains stable at around 30% of total tax revenue, indicating the sector's solid role as an economic stabilizer [1][2] - The total amount of tax reductions and refunds for policies supporting technological innovation and manufacturing reached 23.725 billion yuan in the first ten months [2] Manufacturing Sector Developments - High-end manufacturing is accelerating, with equipment manufacturing sales up by 8.3%, and specific sectors like computer communication and instrumentation seeing increases of 12.3% and 10.3% respectively [2] - The adoption of automation in manufacturing is increasing, with spending on automated equipment rising by 14.2% [2][3] - The share of high-energy-consuming manufacturing sales decreased by 1.2 percentage points compared to the previous year, reflecting a shift towards greener practices [2] Consumer Market Trends - The "old-for-new" policy has stimulated consumer demand, with retail sales in mobile communication devices and home appliances growing by 20.3% and 26.5% respectively [4][5] - The tourism and cultural sectors are thriving, with sales in cultural performances and film screenings increasing by 15.6% and 19.1% [4][5] - The number of travelers benefiting from tax refunds has surged by 285%, with tax refund sales and amounts increasing by 98.8% [5][6] Taxation and Compliance Improvements - Cross-regional tax services have improved, with a nearly fourfold increase in cross-regional tax business handled this year [7][8] - The proportion of inter-provincial trade sales in total sales revenue reached 41.1%, up 0.8 percentage points from the previous year [7] - Over 7,000 domestic and foreign platforms are now fulfilling their tax information reporting obligations, leading to a 12.7% increase in tax payments from platform operators [8]

Group 1 - The core viewpoint of the articles highlights the positive trends in China's economy, driven by effective tax policies and increased investment in various sectors [1][2] - In the first 11 months, the sales revenue of the equipment manufacturing industry increased by 8.3%, with significant growth in computer communication equipment and instrument manufacturing, indicating a shift towards high-end manufacturing [2] - The number of active enterprises in China increased by 9.8% year-on-year in the first 10 months, reflecting a growing business environment supported by stable economic conditions and an active capital market [1] Group 2 - The sales revenue of clean energy sectors, including wind, solar, and hydropower, grew by 14.9% in the first 11 months, indicating a rapid transition towards a greener energy structure [2] - Tax reductions and refunds related to technology innovation and manufacturing amounted to 23.725 billion yuan in the first 10 months, supporting the growth of innovative industries [2] - High-tech industries saw a sales revenue increase of 14.7% year-on-year in the first 11 months, showcasing the impact of innovation on economic development [2]

Core Insights - The sales revenue of high-tech industries in China increased by 14.7% year-on-year in the first 11 months of the year, indicating robust economic growth [1][2][3] Group 1: High-Tech Industry Performance - High-tech manufacturing sales revenue grew by 11.1%, with integrated circuits and industrial mother machines seeing increases of 19.3% and 11% respectively [4] - The intelligent equipment manufacturing sector experienced a significant sales revenue increase of 28.2% [2] - The overall sales revenue of high-tech services rose by 17.2% [4] Group 2: Manufacturing Sector Developments - The manufacturing sector's tax revenue contribution remained stable at around 30%, highlighting its role as an economic stabilizer [2] - Equipment manufacturing sales revenue increased by 8.3%, with computer and communication equipment sales rising by 12.3% and instrument manufacturing by 10.3% [3] - The procurement of automation equipment in manufacturing increased by 14.2%, reflecting a trend towards intelligent upgrades [3] Group 3: Consumer Market Dynamics - The "old-for-new" policy boosted consumer demand, with retail sales of mobile communication devices and home appliances growing by 20.3% and 26.5% respectively [6] - The tourism and cultural sectors saw significant growth, with sales in cultural performances and film screenings increasing by 15.6% and 19.1% [6] - The number of outbound travelers benefiting from tax refunds surged by 285%, with tax refund sales and amounts increasing by 98.8% [6][7] Group 4: Taxation and Regulatory Improvements - The implementation of cross-regional tax service reforms has led to a nearly fourfold increase in cross-regional tax business handling [8] - The proportion of inter-provincial trade sales in total national sales revenue reached 41.1%, up 0.8 percentage points from the previous year [8] - Over 7,000 domestic and foreign platforms have complied with tax information reporting obligations, resulting in a 12.7% increase in tax payments from platform operators [9]