Zhao Zeyong

Deputy Director-General, Debt Management Department, Ministry of Finance

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China's fiscal revenue growth slows as land sales keep falling

Announced the 6 trillion yuan hidden-debt replacement quota is 98.3% issued

China's fiscal revenue grew 5.1% in the first nine months of 2026, a slowdown from 5.7% in the January-August period. The deceleration tracks a property downturn that has cut government land-sale revenue by 27.9%.

Updated 3 hours ago