Fiscal Revenue in First Two Months Grows 0.7% Year-over-Year, Expenditure Pace Fastest in Five Years

WealthCoffee · 2026-03-20T11:48:33+00:00

In 2026, fiscal revenue recovered smoothly, increasing slightly by 0.7% year-over-year. In the first two months, tax revenue and non-tax revenue performed well, with non-tax revenue growth accelerating faster than tax revenue, reflecting the implementation of fiscal policy and the early issuance of special-purpose bonds.

WealthCoffee

2026-03-20 11:48:33

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Caixin: In 2026, the economy started well and prices are recovering, leading to a steady rebound in fiscal revenue in the first two months, with a slight year-on-year increase of 0.7%. Fiscal expenditures outperformed revenues, reflecting proactive fiscal policies and the early issuance of local government special bonds.

According to data released by the Ministry of Finance on March 19, from January to February 2026, the total national general public budget revenue reached 4.41 trillion yuan, a year-on-year increase of 0.7%. In contrast, both the full year of 2025 and the first two months saw declines in fiscal revenue. During January and February, tax revenue was 3.64 trillion yuan, a slight increase of 0.1% year-on-year; non-tax revenue was 776.1 billion yuan, growing faster than tax revenue with a year-on-year increase of 3.4%.

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