MoF promises more fiscal support in 2025

Local government financial stresses persisted in November, despite modest tax revenue growth. According to finance ministry (MoF) data, released Monday, general public budget revenue – the biggest chunk of government income – increased by 11.0% y/y, marking the third consecutive… Read More »

The consumer trade-in program is bearing fruit. Quick refresher: Early this year, the State Council released an action plan to promote a consumer goods trade-in initiative, including offering subsidies for home renovations. At the end of July, authorities ramped up… Read More »

Officials have set China's 2025 economic growth target at "around 5%" and the budget deficit target at 4%. That's according to Reuters, who disclosed the leak on Tuesday, citing two unnamed sources. A 2025 growth target of "around 5%" would… Read More »