The country's tax revenue dropped by 3.4 per cent YoY, while its non-tax revenue rose by 25.4 per cent YoY.
The central government collected 10.04 trillion yuan in fiscal revenue last year—up by 0.9 per cent YoY, while local governments collected 11.93 trillion yuan—up by 1.7 per cent YoY, a state-controlled news outlet reported.
China's fiscal expenditure expanded by 3.6 per cent YoY to 28.46 trillion yuan in 2024. The central government's fiscal expenditure rose by 6.5 per cent YoY, while there was a 3.2-per cent increase in expenditure by local governments.
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