China's fiscal revenue declines 1.1% in Q1, but authorities aim to support growth targets

From Yahoo Finance: 2025-04-18 06:57:00

China’s fiscal revenue decline eases in Q1 as Beijing navigates U.S. tariffs. Fiscal revenue totals $821.54 billion, down 1.1% YoY. Tax revenue falls 3.5%, non-tax revenue surges 8.8%. Fiscal expenditure rises 4.2%. China aims for 4% GDP deficit to support 5% growth target despite Fitch downgrade and trade tensions.

China’s economy shows uneven recovery with strong new bank lending and exports in March, but deflation persists. COVID-19 recovery remains shaky amid weak domestic demand and deflationary pressures from property market crisis. Policymakers promise proactive measures to bolster the economy as Premier Li Qiang pledges support.

China’s economic challenges continue as fiscal revenue decline slows in Q1 amidst U.S. tariffs. Tax revenue drops 3.5%, non-tax revenue surges 8.8%. Fiscal expenditure rises 4.2%. China targets 4% GDP deficit to support 5% growth despite Fitch downgrade. Policymakers vow to roll out more proactive policy measures.

Read more: China’s fiscal revenue falls 1.1% in January-March