Cheng Siwei

1 week ago | caixinglobal.com | Cheng Siwei |Denise Jia

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x In an attempt to ease growing fiscal pressures and rescue stalled infrastructure partnerships, Chinese provinces are increasingly relying on local government special bonds to patch budget gaps and repay overdue corporate debt, including troubled public-private partnership (PPP) contracts.

2 weeks ago | caixinglobal.com | Cheng Siwei |Qing Na

Explore the story in 3 minutesChina’s economic growth has remained stable over the past year, yet national tax revenue has continued to decline. In 2023, national tax revenue fell by 3.4% to 17.5 trillion yuan (about $2.5 trillion), and this downward trend persisted into 2024, with first-quarter tax revenue dropping 3.5% year-on-year. During the same periods, China’s GDP grew by 5% in 2023 and an even stronger 5.4% in the first quarter of 2024.

2 months ago | caixinglobal.com | Cheng Siwei |Qing Na

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x China reported better-than-expected year-on-year GDP growth of 5.4% in the first quarter, which was in stark contrast to the country’s fiscal performance — tax revenue fell 3.5% in the period, continuing a broader downward trend that began at the end of 2023.

Mar 9, 2025 | caixinglobal.com | Cheng Siwei |Denise Jia

Personalised advertising and content, advertising and content measurement, audience research and services developmentStore and/or access information on a deviceYou can choose how your personal data is used.

Mar 9, 2025 | caixinglobal.com | Cheng Siwei |Denise Jia

In the wake of China’s slow post-pandemic economic recovery and local governments’ shrinking revenue from land sales amid a prolonged real estate slump, the country is launching an overhaul of its fiscal system to redefine central-local financial relations. The reform push, outlined at the Communist Party’s Third Plenary Session in July, calls for a series of tax and budgetary changes to be completed by 2029.