China’s fiscal revenue expanded 4.7 percent year on year to 12.1 trillion yuan (about 1.78 trillion U.S. dollars) in the first half (H1) of 2026, data from the Ministry of Finance showed on Wednesday.
The pace of growth continued to pick up from 4 percent in the first five months, indicating steady improvement in fiscal revenue performance.
In the January-June period, the country’s tax revenue totaled 9.79 trillion yuan, an increase of 5.3 percent year on year.
The country’s fiscal expenditure climbed 1.5 percent year on year to 14.33 trillion yuan during this period.
China will implement a more proactive fiscal policy in 2026, with the deficit-to-GDP ratio set at around 4 percent, according to this year’s government work report. Expenditure in the general public budget is projected to reach 30 trillion yuan for the first time, an increase of roughly 1.27 trillion yuan compared with 2025.
