ECONOMY

China’s Fiscal Revenue Posts Fastest Growth Since Last Year

Published: Apr. 27, 2026 11:57 a.m. GMT+8

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China’s Fiscal Revenue Growth Fastest in Over a Year

China’s fiscal revenue posted its fastest monthly growth in more than a year in March, giving Beijing more room to sustain spending despite a prolonged property slump.

China’s general public budget (GPB) revenue rose 6.9% year-on-year, supported by higher prices, solid imports and improved tax compliance, finance ministry data showed. The GPB is the largest of the four budgets in the country’s fiscal system.

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China’s GPB revenue rose 6.9% YoY in March, fastest in over a year; Q1 up 2.4%.
Driven by PPI growth, strong imports, personal income tax +190%; corporate tax fell 13.8%, property taxes contracted.
Spending up 1.1% in March, Q1 executed 24.9% of budget (fastest in 5 years); land sales revenue down >20%.

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