Ministry of Finance: Financial operations are stable and orderly, and the overall budget execution situation is relatively good.

In 2025, the overall operation of China's economy is steady with progress, and the fiscal operation is stable and orderly. Fiscal departments at all levels strengthen the overall planning of financial resources, maintain necessary expenditure intensity, and ensure adequate support for key areas of expenditure. The national general public budget revenue is 21.6 trillion yuan, and tax revenue has achieved growth. In 2025, the national general public budget revenue is 21.6 trillion yuan, a decrease of 1.7% compared to 2024. Among them, tax revenue increased by 0.8%, showing a steady overall upward trend for the year; non-tax revenue decreased by 11.3%, mainly due to the one-time arrangement of special revenue from central units in 2024, which raised the base. In terms of tax types, domestic value-added tax increased by 3.4%, maintaining steady growth throughout the year; domestic consumption tax increased by 2%, mainly driven by the growth in cigarette and refined oil consumption taxes; corporate income tax increased by 1%, mainly driven by the growth in manufacturing industry corporate income tax. In terms of industries, the tax performance of equipment manufacturing and modern service industries is good. Tax revenue from computer and communication equipment manufacturing increased by 13.5%, tax revenue from electrical machinery and equipment manufacturing increased by 8%, tax revenue from scientific research and technical services increased by 14.3%, and tax revenue from cultural, sports and entertainment industries increased by 7.5%. In 2025, the central general public budget revenue is 9.4 trillion yuan, a decrease of 6.5% compared to 2024; local general public budget revenue is 12.2 trillion yuan, an increase of 2.4% compared to 2024, with an increase of 0.8 and 0.6 percentage points higher than the first half and the first three quarters respectively. In terms of regions, among the 31 provinces, autonomous regions, and municipalities directly under the central government, except for a few areas affected by the downward trend of prices of commodities such as coal, 27 regions achieved year-on-year growth in fiscal revenue.