China records first fiscal revenue decline in 5 years
發佈日期: 2026-02-01 00:20
TVB News
China's fiscal revenue recorded a year-on-year decline last year for the first time in five years.
Analysts say it was dragged down by slowing economic growth and a prolonged property downturn.
The Ministry of Finance announced that national general public budget revenue totalled 21.6 trillion yuan last year, down 1.7 percent from the previous year.
The Ministry says overall fiscal performance remained stable, with a gradual recovery trend reflecting steady economic development.
National general public budget expenditure, meanwhile, reached 28.7 trillion yuan last year, up 1 percent year-on-year.
Authorities say more fiscal resources will be directed towards boosting consumption and "investing in people," including increased spending on healthcare, education and social welfare, with the aim of raising household incomes.
