From January to July, the national general public budget revenue was 13566.3 billion yuan

The Ministry of Finance announced the fiscal revenue and expenditure in July 2024 on the 26th. Data showed that from January to July, China’s general public budget revenue was 13566.3 billion yuan, a year-on-year decrease of 2.6%. After deducting the impact of special factors such as the tax deferral of small and medium-sized enterprises in the same period last year, the tax reduction policy introduced in the middle of last year, which raised the base, the comparable growth was about 1.2%.

From the central and local levels, from January to July, the central general public budget revenue was 5974.5 billion yuan, a year-on-year decrease of 6.4%; the local general public budget revenue was 7591.8 billion yuan, a year-on-year increase of 0.6%. From the perspective of tax and non-tax revenue, from January to July, China’s tax revenue was 11124 billion yuan, a year-on-year decrease of 5.4%; non-tax revenue was 2442.3 billion yuan, a year-on-year increase of 12%.

In terms of general public budget expenditure, from January to July, China’s general public budget expenditure was 15546.3 billion yuan, a year-on-year increase of 2.5%. In terms of central and local governments, central general public budget expenditures at the same level were 214.44 billion yuan, up 9.3% year-on-year; local general public budget expenditures were 1340.19 billion yuan, up 1.5% year-on-year.