Key information about China Consolidated Fiscal Balance: % of GDP

• China Consolidated Fiscal Balance recorded a deficit equal to 4.8 % of its Nominal GDP in Dec 2024, compared with a deficit equal to 4.9 % in the previous quarter
• China Consolidated Fiscal Balance to GDP data is updated quarterly, available from Dec 1995 to Dec 2024, with an average ratio of -2.0 %
• The data reached an all-time high of 1.4 % in Jun 2008 and a record low of -6.1 % in Dec 2020

CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from monthly Consolidated Fiscal Balance and quarterly Nominal GDP. The Ministry of Finance provides year-to-date Consolidated Fiscal Balance in local currency. The National Bureau of Statistics provides year-to-date Nominal GDP in local currency. Consolidated Fiscal Balance as % of Nominal GDP prior to Q4 2007 is calculated from non year-to-date Consolidated Fiscal Balance.


Further information about China Consolidated Fiscal Balance: % of GDP

• In the latest reports, China National Government Debt reached 4,230.0 USD bn in Dec 2023
• China Nominal GDP reached 4,166.8 USD bn in Mar 2023

China recorded a Government Budget deficit equal to 6.50 percent of the country's Gross Domestic Product in 2024. This dataset provides - China Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the budget balance in relation to the gross domestic product (GDP) in China stood at approximately -7.34 percent. Between 1982 and 2024, the figure dropped by around 7.56 percentage points, though the decline followed an uneven course rather than a steady trajectory. The budget balance is forecast to decline by about 0.77 percentage points from 2024 to 2030, fluctuating as it trends downward.The indicator describes the general government net lending / borrowing, which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

China Government Surplus or Deficit: Year to Date data was reported at -1,262.600 RMB bn in Mar 2025. This records a decrease from the previous number of -124.000 RMB bn for Feb 2025. China Government Surplus or Deficit: Year to Date data is updated monthly, averaging 268.625 RMB bn from Jan 2007 (Median) to Mar 2025, with 212 observations. The data reached an all-time high of 1,535.486 RMB bn in Jul 2011 and a record low of -6,491.000 RMB bn in Dec 2024. China Government Surplus or Deficit: Year to Date data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Revenue and Expenditure: Monthly.

This graph shows the government budget balance as a share of GDP in China in selected years from 2000 to 2022. In 2022, China's government deficit had taken up about *** percent of the national GDP.

China recorded a government budget surplus of 6228 CNY Hundred Million in August of 2025. This dataset provides - China Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Hong Kong SAR (China) Consolidated Fiscal Balance: % of GDP

• Hong Kong SAR (China) Consolidated Fiscal Balance recorded a deficit equal to 4.3 % of its Nominal GDP in Dec 2024, compared with a deficit equal to 6.1 % in the previous quarter
• Hong Kong SAR (China) Consolidated Fiscal Balance to GDP data is updated quarterly, available from Sep 1999 to Dec 2024, with an average ratio of 1.1 %
• The data reached an all-time high of 8.4 % in Dec 2007 and a record low of -9.2 % in Mar 2021

CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from monthly Consolidated Fiscal Balance and quarterly Nominal GDP. The Treasury provides Consolidated Fiscal Balance in local currency. Census and Statistics Department provides Nominal GDP in local currency.


Further information about Hong Kong SAR (China) Consolidated Fiscal Balance: % of GDP

• In the latest reports, Hong Kong SAR (China) National Government Debt reached 190.1 USD bn in Mar 2024
• Hong Kong SAR (China) Nominal GDP reached 91.4 USD bn in Mar 2023

China recorded a Government Debt to GDP of 88.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - China Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

China Deficit: Target: Local data was reported at 800,000.000 RMB mn in 2025. This records an increase from the previous number of 720,000.000 RMB mn for 2024. China Deficit: Target: Local data is updated yearly, averaging 800,000.000 RMB mn from Dec 2015 (Median) to 2025, with 11 observations. The data reached an all-time high of 980,000.000 RMB mn in 2020 and a record low of 500,000.000 RMB mn in 2015. China Deficit: Target: Local data remains active status in CEIC and is reported by The Central People's Government. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Finance: Target.

Government Spending in China increased to 224396.60 CNY Hundred Million in 2024 from 222474.20 CNY Hundred Million in 2023. This dataset provides - China Government Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news.

China Deficit: Target: Central data was reported at 4,860,000.000 RMB mn in 2025. This records an increase from the previous number of 3,340,000.000 RMB mn for 2024. China Deficit: Target: Central data is updated yearly, averaging 1,475,000.000 RMB mn from Dec 2008 (Median) to 2025, with 18 observations. The data reached an all-time high of 4,860,000.000 RMB mn in 2025 and a record low of 160,800.000 RMB mn in 2008. China Deficit: Target: Central data remains active status in CEIC and is reported by The Central People's Government. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Finance: Target.

Key information about China Government Debt: % of GDP

• China Government debt accounted for 25.6 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 25.1 % in the previous quarter.
• China government debt to GDP ratio data is updated quarterly, available from Mar 2014 to Dec 2024.
• The data reached an all-time high of 25.6 % in Dec 2024 and a record low of 14.0 % in Mar 2014.

CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and rolling sum of quarterly Nominal GDP. The Ministry of Finance provides Government Debt in local currency. The National Bureau of Statistics provides Nominal GDP in local currency. Government Debt covers Central Government only.


Related information about China Government Debt: % of GDP

• In the latest reports, China National Government Debt reached 4,230.0 USD bn in Dec 2023.
• The country's Nominal GDP reached 4,166.8 USD bn in Mar 2023.

China Government Surplus or Deficit: Central Level data was reported at 135.800 RMB bn in Mar 2025. This records a decrease from the previous number of 633.400 RMB bn for Dec 2024. China Government Surplus or Deficit: Central Level data is updated monthly, averaging 330.150 RMB bn from Mar 2009 (Median) to Mar 2025, with 168 observations. The data reached an all-time high of 732.300 RMB bn in Jul 2021 and a record low of -148.200 RMB bn in Dec 2019. China Government Surplus or Deficit: Central Level data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Revenue and Expenditure: Monthly.

China recorded a Current Account surplus of 2.20 percent of the country's Gross Domestic Product in 2024. This dataset provides - China Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This statistic shows the United States goods trade deficit with China from 2014 to 2024. In 2024, the value of U.S. imports from China exceeded the exports to China by around ***** billion U.S. dollars.

China Government Surplus or Deficit: Local Level data was reported at -1,274.400 RMB bn in Mar 2025. This records an increase from the previous number of -2,520.100 RMB bn for Dec 2024. China Government Surplus or Deficit: Local Level data is updated monthly, averaging -541.650 RMB bn from Mar 2009 (Median) to Mar 2025, with 168 observations. The data reached an all-time high of 230.664 RMB bn in Jan 2015 and a record low of -2,520.100 RMB bn in Dec 2024. China Government Surplus or Deficit: Local Level data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Revenue and Expenditure: Monthly.

The repeated outbreak of COVID-19 epidemic has brought a heavy blow to the world economy. Fiscal policy is one of the important macro-control measures to pull the economy out of the quagmire, and it is necessary to study the implementation of fiscal policy under the epidemic. Due to the relatively abundant resources of the Chinese government, this study uses China as the research object to study the orientation of fiscal policy under COVID-19 epidemic. We use fiscal policies and a large amount of macroeconomic data to identify fiscal policy and macroeconomic regulation's dynamic mechanism in China. Our findings indicate a dynamic feedback relationship between expenditure-based and revenue-based fiscal policy tools, output gaps, and deficit scales. Before the global economic crisis, fiscal policy can play a good role in adversely regulating the economy, and the difficulty of adjustment after the crisis has increased significantly. During COVID-19 epidemic, the interaction time between variables related to fiscal policy increased, suggesting that the implementation of fiscal policy during the epidemic should be particularly cautious.

China Government Surplus or Deficit: Central data was reported at -3,340,000.000 RMB mn in 2024. This records an increase from the previous number of -4,160,000.000 RMB mn for 2023. China Government Surplus or Deficit: Central data is updated yearly, averaging -1,400,000.000 RMB mn from Dec 2008 (Median) to 2024, with 17 observations. The data reached an all-time high of -160,800.000 RMB mn in 2008 and a record low of -4,160,000.000 RMB mn in 2023. China Government Surplus or Deficit: Central data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Revenue and Expenditure: Central Government.

China recorded a Current Account surplus of 1287 USD Hundred Million in the second quarter of 2025. This dataset provides - China Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

China recorded a capital and financial account deficit of 1369.75 USD Hundred Million in the second quarter of 2025. This dataset provides - China Capital Flows - actual values, historical data, forecast, chart, statistics, economic calendar and news.