Bloomberg: Chinese budget deficit reduces more than one -third

China ’s budget deficit has been reduced by more than one -third since this year, indicating that despite the slowdown of economic growth and the deterioration of the property market, China still maintains a prudent fiscal policy.

BloomberYuan), decreased by 37%over the same period in 2022.From January to July this year, the total revenue of general public budgets and government fund budgets increased by 6%, and total expenditure fell by 4.8%.

Bloomberg reported that these data show that although the economic situation has deteriorated since April of China, governments at all levels are very cautious about increasing stimuli.The finances of many provinces were severely impacted in 2022. If the central government does not provide more support, these provinces may have no financial capacity to increase expenditure significantly.

Last year, with the increase in the cost of zero -epidemic prevention, the total amount of fiscal deficits in 31 provinces in China touched at least the highest level since 2012.As for financial income, it has declined sharply due to weak economic, tax reduction and land transfer revenue.In the first half of this year, the main budget deficits of most provinces were reduced compared with last year, partly because tax revenue rebounded.

According to the official Monday of China, from January to July this year, the general public budget revenue of the nation's nationwide was close to 14 trillion yuan, an increase of 11.5%year -on -year, of which tax revenue increased by 14.5%year -on -year. Land and real estateThe deed income in related taxes increased by 4.2%year -on -year.In the first half of the year, China's general public budget revenue increased by 13.3%year -on -year.

From January to July, the transfer income of state -owned land use rights has decreased by 19.1%year -on -year, dragging down the budget revenue of government funds.General public budget expenditures increased by 3.3%year -on -year to nearly 15.2 trillion yuan, and government fund budget expenditures fell by 23.3%year -on -year.