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China’s Government Spending Deficit in the First Six Months of 2022 Was 5 Trillion Yuan

China’s Ministry of Finance published the amounts of the government’s spending and income for the first six months of the year. The income for the national government budget was 10.52 trillion yuan (US $1.56 trillion) and the spending was 12.89 trillion yuan (US $1.91 trillion). The income from the national governmental funds was 2.80 trillion yuan (US $420 billion) and the spending was 5.48 trillion yuan (US $810 billion). In total, the government spending deficit was 5 trillion yuan (US $740 billion) for the first six months of the year.

Source: China’s Ministry of Finance website, July 14, 2022