China: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| China |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | -4.60 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1982 - 2023 |
| Average | -1.80 |
| Min - Max | -6.20 - 0.92 |
| Source | Asian Development Bank |
The latest value from 2023 is -4.6 percent, an increase from -4.7 percent in 2022. In comparison, the world average is -2.78 percent, based on data from 138 countries. Historically, the average for China from 1982 to 2023 is -1.8 percent. The minimum value, -6.2 percent, was reached in 2020 while the maximum of 0.92 percent was recorded in 1985.
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Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. We express the value as percent of GDP to relate it to the size of the economy.
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International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 16.05 | 2022 | percent |
| Government spending, in dollars | 2,870.05 | 2022 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -4.60 | 2023 | percent |
| Government debt | 84.38 | 2023 | percent |
| Long-term interest rate | 2.15 | 7/2024 | percent |
| Tax revenue | 7.70 | 2022 | percent |
| Commercial tax rate | 59.20 | 2019 | percent |
| Tax preparation time | 138 | 2019 | hours |
| Number of taxes | 7 | 2019 | taxes |
| Taxes on goods and services | 52.25 | 2022 | percent |
| Taxes on international trade | 2.87 | 2022 | percent |
| Income and profits taxes | 36.33 | 2022 | percent |
| Foreign aid | -282.32 | 2022 | million U.S. dollars |