2025 fiscal revenue decreases by 1.7% year-on-year, slight increase in taxes, significant drop in non-tax revenue

WealthCoffee · 2026-03-03T11:53:51+00:00

In 2025, the national general public budget revenue is 21.6 trillion yuan, a year-on-year decrease of 1.7%. Tax revenue slightly increased by 0.8%, but non-tax revenue decreased by 11.3%. The decline in fiscal revenue is mainly due to the base effect in 2024.

WealthCoffee

2026-03-03 11:53:51

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** Caixin News ** In 2025, the economy continued to stabilize, driving steady growth in tax revenue, but non-tax revenue declined significantly. The total fiscal revenue for the year still decreased by 1.7% year-on-year.

According to data released by the Ministry of Finance on January 30, 2026, the national general public budget revenue in 2025, which is the narrow definition of fiscal revenue, reached 21.6 trillion yuan, a 1.7% decrease compared to 2024. Among them, tax revenue was approximately 17.64 trillion yuan, a slight increase of 0.8% year-on-year; non-tax revenue declined by 11.3% year-on-year, totaling about 3.97 trillion yuan for the year.

In 2025, total fiscal revenue decreased by 1.7% year-on-year, marking a decline for the first time since 2020. During the first year of the COVID-19 pandemic in 2020, fiscal revenue fell by 3.9% year-on-year. The decline in 2025 was mainly due to a sharp drop in non-tax revenue. The Ministry of Finance explained that this was primarily caused by a one-time transfer of special income from central units in 2024, which inflated the base.

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