The budget revenue of the central and local governments in China decreased by 0.3 % in the first 5 months of this year compared to the same period last year, while the budget cost increased by 4.2 %.
According to a statement of the Ministry of Finance, the total budget revenue of the central and local governments fell 0.3 % on the basis of annual in January to May 2025 and 9.66 trillion yuan (1.34 trillion USD).
During this period, the budget spending increased by 4.2 % and 11.3 trillion Yuana (1.57 trillion dollars). In the first 5 months of the year, the budget deficit approached $ 230 billion. The budget revenue of the central and local governments in China is 21.97 trillion yuan (3.05 trillion dollars compared to the end of this year) and the budget cost is 28.46 trillion yuan (3.93 trillion dollars compared to the end of the year). This year, the Government has demonstrated the intention to increase budget spending for growth policies by increasing the budget deficit target to the gross domestic product from 3 % to 4 %.