China's government-managed fund revenue falls 18.6% in first three quarters to 2.5 trillion yuan
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China's Ministry of Finance reported that nationwide government fund budget revenue for the first three quarters totaled 2.501 trillion yuan, down 18.6% year-on-year. Central government fund revenue rose 12.4% to 368.2 billion yuan, while local government fund revenue fell 22.3% to 2.1328 trillion yuan. Within local revenue, state-owned land use right transfer income dropped 27.9% to 1.6087 trillion yuan. The data highlights continued pressure on local fiscal resources, particularly from weaker land sales, even as central government fund revenue grew.
Source report
Ministry of Finance data shows decline driven by lower local land transfer revenue
In the first three quarters of the year, China's national government fund budget revenue totaled 2.501 trillion yuan, down 18.6% year-on-year, according to the Ministry of Finance.
Broken down by central and local levels:
- Central government fund budget revenue: 368.2 billion yuan, up 12.4% year-on-year
- Local government fund budget revenue at the corresponding level: 2.1328 trillion yuan, down 22.3% year-on-year
- Of which, revenue from the transfer of state-owned land use rights: 1.6087 trillion yuan, down 27.9% year-on-year
Source
domesticEastern
Part of this Story
China's Land Use Rights Revenue Falls 27.9% as Fiscal Growth Slows to 5.1%