China’s fiscal revenue rises 4.7% to $1.78 trillion in first half of 2026

China’s fiscal revenue rose 4.7% year on year to 12.1 trillion yuan ($1.78 trillion) in the first half of 2026, according to data released by the Ministry of Finance on July 22.

The growth rate accelerated from 4% recorded during the first five months of the year, indicating continued improvement in fiscal revenue performance, Chinese media reports.

Tax revenue totalled 9.79 trillion yuan ($1,4 trillion) between January and June, up 5.3% from the same period last year.

Fiscal expenditure increased 1.5% year on year to 14.33 trillion yuan ($2.1 trillion) during the first half of the year.

China plans to pursue a more proactive fiscal policy in 2026, with the deficit-to-GDP ratio set at around 4%, according to the government’s annual work report.

General public budget expenditure is projected to reach 30 trillion yuan for the first time, representing an increase of approximately 1.27 trillion yuan from 2025.

By Sabina Mammadli