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China's fiscal revenue up 1.3% YoY in 2024: Finance ministry

26 Jan '25
1 min read
China's fiscal revenue up 1.3% YoY in 2024: Finance ministry
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Insights

  • China's fiscal revenue increased by 1.3 per cent YoY to reach 21.97 trillion yuan ($3.05 trillion) last year, according to data from the country's finance ministry.
  • The country's tax revenue dropped by 3.4 per cent YoY, while its non-tax revenue rose by 25.4 per cent YoY.
  • China's fiscal expenditure expanded by 3.6 per cent YoY to 28.46 trillion yuan in 2024.
China's fiscal revenue increased by 1.3 per cent year on year (YoY) to reach 21.97 trillion yuan ($3.05 trillion) last year, according to data from the country’s finance ministry.

The country's tax revenue dropped by 3.4 per cent YoY, while its non-tax revenue rose by 25.4 per cent YoY.

The central government collected 10.04 trillion yuan in fiscal revenue last year—up by 0.9 per cent YoY, while local governments collected 11.93 trillion yuan—up by 1.7 per cent YoY, a state-controlled news outlet reported.

China's fiscal expenditure expanded by 3.6 per cent YoY to 28.46 trillion yuan in 2024. The central government's fiscal expenditure rose by 6.5 per cent YoY, while there was a 3.2-per cent increase in expenditure by local governments.

Fibre2Fashion News Desk (DS)

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