China’s fiscal revenue climbed by 0.5% in the first nine months of 2025 compared to a year earlier, following a 0.3% rise in the January–August period, according to data from the Ministry of Finance released on Friday. During the period, fiscal revenue rose to CNY 16.39 trillion (USD 2.31 trillion). The central government collected about CNY 7.08 trillion, down 1.2% yoy, while local governments collected CNY 9.3 trillion, up 1.8%. Tax revenue inched up 0.7% yoy to CNY 13.27 trillion, while non-tax revenue fell 0.4% to CNY 3.12 trillion. Meanwhile, fiscal expenditure grew 3.1% to CNY 20.8 trillion. Central government spending expanded 7.3%, while local government expenditure advanced by 2.4% during the same period. Spending on education totaled approximately CNY 3.16 trillion, up 5.4%. Expenditure on science and technology reached CNY 710.5 billion, marking a 6.5% increase, while spending on social security and employment rose 10% to CNY 3.49 trillion.