China's fiscal revenue fell 1.7 per cent in 2025 from a year earlier, the finance ministry said on Friday (Jan 30), the first contraction since 2020 as a protracted property slump and weak domestic demand saddled the economy. Fiscal revenues in 2025 totalled 21.6 trillion yuan (US$3.11 trillion), a ministry official said at a press briefing. Expenditures grew 1 per cent to 28.7 trillion yuan, slowing from 3.6 per cent growth in 2024. Growth in China's fiscal revenue slowed to 1.3 per cent in 2024. Revenue dropped 3.9 per cent in 2020 when the initial outbreak of the COVID-19 pandemic disrupted economic activities. ... (full story)