Published on: 2026-08-21
Source: People’s Republic of China — Translation
An important disclaimer is at the bottom of this article.
Beijing, August 21 /Xinhua/ — China’s budget revenue growth accelerated in the first seven months of 2026, indicating a steady recovery of the fiscal sector as the economy gains momentum. This was shown by official data released on Friday by the Ministry of Finance of China.
According to the data, the country’s general government budget revenues reached nearly 14.37 trillion yuan (about 2.12 trillion US dollars) from January to July, increasing by 5.8 percent year-on-year and accelerating compared to the 4.7 percent growth recorded in the first half of the year.
Tax revenues increased by 6.7 percent year-on-year to approximately 11.84 trillion yuan, while non-tax revenues rose by 1.6 percent and exceeded 2.53 trillion yuan.
Among individual revenue items, the value-added tax amounted to about 4.51 trillion yuan, up 6.1 percent year-on-year, while corporate income tax receipts reached nearly 3.28 trillion yuan, increasing by 7.2 percent. Notably, the stamp duty on stock exchange transactions rose by 99.2 percent year-on-year to 186.4 billion yuan, driven by the high market turnover.
As for the expenditure side, total government budget spending increased by 1.3 percent year-on-year, reaching almost 16.29 trillion yuan. Spending on social security and employment rose by 7 percent to more than 2.95 trillion yuan, while healthcare expenditure grew by 9.8 percent to more than 1.36 trillion yuan, underscoring the ongoing policy priority on people’s well-being. Spending on science and technology increased by 1.5 percent to 540.8 billion yuan.
The dynamics of budget revenues are observed against the backdrop of an overall stable macroeconomic situation. In the first half of 2026, China’s GDP grew by 4.7 percent year-on-year, demonstrating the resilience of the world’s second-largest economy.
According to the government work report, in 2026 China will maintain an active fiscal policy: the deficit-to-GDP ratio is set at about 4%, and total government budget expenditures are expected to reach 30 trillion yuan for the first time.
As reported on Friday by Liao Min, Deputy Minister of Finance of the PRC, in the second half of the year it is planned to issue and use targeted local government bonds and ultra-long-term special treasury bonds totaling more than 2 trillion yuan. This volume is significant compared to the same period in previous years and will help maintain the intensity of fiscal and tax policies to support investments and sustainable economic growth. –0–
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