Ministry of Finance: From January to August, national general public budget revenue increased by 0.3% year-on-year, expenditure grew by 3.1% year-on-year, and revenues from stamp duty on transactions surged by 81.7%.

Ministry of Finance: From January to August, national general public budget revenue increased by 0.3% year-on-year, expenditure grew by 3.1% year-on-year, and revenues from stamp duty on transactions surged by 81.7%.

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From January to August, the national general public budget revenue saw a slight year-on-year increase, with tax revenue growth turning positive from negative, and expenditures continuing to grow. Stamp duty continued to maintain high growth, with securities transaction stamp duty surging 81.7% year-on-year.

On September 17, data released by the Ministry of Finance showed that from January to August, national general public budget revenue was 14.8198 trillion yuan, a year-on-year increase of 0.3%. Of this, national tax revenue was 12.1085 trillion yuan, a slight year-on-year increase of 0.02% (a 0.3% decline in the first seven months, i.e., growth turned positive); non-tax revenue was 2.7113 trillion yuan, up 1.5% year-on-year.

Stamp duty amounted to 284.4 billion yuan, up 27.4% year-on-year. Of that, securities transaction stamp duty was 118.7 billion yuan, up 81.7% year-on-year. 

On the expenditure side, national general public budget expenditure was 17.9324 trillion yuan, up 3.1% year-on-year. By central and local breakdown: central general public budget expenditure was 2.657 trillion yuan, up 8% year-on-year; local general public budget expenditure was 15.2754 trillion yuan, up 2.3% year-on-year.

The following is the original Ministry of Finance announcement:

Fiscal Revenue and Expenditure from January to August 2025

　　I. National General Public Budget Revenue and Expenditure Situation 

　　(1) General Public Budget Revenue Situation. 

　　From January to August, national general public budget revenue was 14.8198 trillion yuan, up 0.3% year-on-year. Of this, national tax revenue was 12.1085 trillion yuan, up slightly by 0.02% year-on-year; non-tax revenue was 2.7113 trillion yuan, up 1.5% year-on-year. By central and local split: central general public budget revenue was 6.4268 trillion yuan, down 1.7% year-on-year; local general public budget revenue was 8.393 trillion yuan, up 1.8% year-on-year. 

　　Major tax revenue items are as follows: 

　　1. Domestic VAT: 4.7389 trillion yuan, up 3.2% year-on-year. 

　　2. Domestic consumption tax: 1.1523 trillion yuan, up 2% year-on-year. 

　　3. Corporate income tax: 3.1477 trillion yuan, up 0.3% year-on-year. 

　　4. Individual income tax: 1.0547 trillion yuan, up 8.9% year-on-year. 

　　5. VAT and consumption tax on imported goods: 1.177 trillion yuan, down 6.7% year-on-year; Customs duties: 152.7 billion yuan, down 6.5% year-on-year. 

　　6. Export tax rebates: 1.5766 trillion yuan, up 9% year-on-year. 

　　7. Urban maintenance and construction tax: 347.1 billion yuan, up 2.9% year-on-year. 

　　8. Vehicle purchase tax: 133.4 billion yuan, down 17.7% year-on-year. 

　　9. Stamp duty: 284.4 billion yuan, up 27.4% year-on-year. Of which, securities transaction stamp duty: 118.7 billion yuan, up 81.7% year-on-year. 

　　10. Resource tax: 194.3 billion yuan, down 2.8% year-on-year. 

　　11. Deed tax: 301.2 billion yuan, down 15.3% year-on-year. 

　　12. Property tax: 330.7 billion yuan, up 11.5% year-on-year. 

　　13. Urban land use tax: 170.4 billion yuan, up 6.3% year-on-year. 

　　14. Land value-added tax: 296.7 billion yuan, down 18.3% year-on-year. 

　　15. Farmland occupation tax: 100.1 billion yuan, up 4% year-on-year. 

　　16. Environmental protection tax: 19.7 billion yuan, up 11.5% year-on-year. 

　　17. Other taxes including vehicle and vessel tax, vessel tonnage tax, tobacco leaf tax: total 83.8 billion yuan, up 0.7% year-on-year. 

　　(2) General Public Budget Expenditure Situation. 

　　From January to August, national general public budget expenditure was 17.9324 trillion yuan, up 3.1% year-on-year. By central and local split: central general public budget expenditure was 2.657 trillion yuan, up 8% year-on-year; local general public budget expenditure was 15.2754 trillion yuan, up 2.3% year-on-year. 

　　Major expenditure items are as follows: 

　　1. Education expenditure: 2.7078 trillion yuan, up 5.6% year-on-year. 

　　2. Science and technology expenditure: 587.4 billion yuan, up 3.1% year-on-year. 

　　3. Culture, tourism, sports and media expenditure: 227.2 billion yuan, up 4.3% year-on-year. 

　　4. Social security and employment expenditure: 3.0723 trillion yuan, up 10% year-on-year. 

　　5. Healthcare and hygiene expenditure: 1.3717 trillion yuan, up 5.1% year-on-year. 

　　6. Energy saving and environmental protection expenditure: 331.5 billion yuan, up 6.6% year-on-year. 

　　7. Urban and rural community expenditure: 1.2319 trillion yuan, down 4.9% year-on-year. 

　　8. Agriculture, forestry, and water expenditure: 1.3589 trillion yuan, down 9.4% year-on-year. 

　　9. Transportation expenditure: 712.8 billion yuan, down 1.3% year-on-year. 

　　10. Debt interest payment expenditure: 871.5 billion yuan, up 5.9% year-on-year. 

　　II. National Government Fund Budget Revenue and Expenditure Situation 

　　(1) Government Fund Budget Revenue Situation. 

　　From January to August, national government fund budget revenue was 2.6449 trillion yuan, down 1.4% year-on-year. By central and local split: central government fund budget revenue was 293.3 billion yuan, up 0.6% year-on-year; local government fund budget revenue was 2.3516 trillion yuan, down 1.6% year-on-year, of which state-owned land use rights transfer revenue was 1.9263 trillion yuan, down 4.7% year-on-year. 

　　(2) Government Fund Budget Expenditure Situation. 

　　From January to August, national government fund budget expenditure was 6.2602 trillion yuan, up 30% year-on-year. By central and local split: central government fund budget expenditure was 760.9 billion yuan, a 3.1-fold increase year-on-year; local government fund budget expenditure was 5.4993 trillion yuan, up 18.8% year-on-year, of which state-owned land use rights transfer related expenditure was 2.6732 trillion yuan, down 4.1% year-on-year. 

Source: Ministry of Finance Official Website

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