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China’s fiscal revenue fel l1.7% in 2025 from a year earlier, the Finance Ministry said on Friday (January 30, 2026), the first contraction since 2020, as a protracted property slump and weak domestic demand dragged the economy.
Tax revenue rose 0.8% in 2025, while income from non-tax sources slumped 11.3%%, the ministry said. Fiscal expenditure rose 1% on year.
Revenue from land sales by China’s local governments dropped 14.7% in 2025 compared with the previous year amid the deep property downturn.
Published – January 30, 2026 01:04 pm IST
