Beijing's fiscal performance remained steady in the first eight months of 2025, with the revenue from general public budget reaching 452.88 billion yuan (US$63.59 billion), a year-on-year increase of 3.2%, according to the latest data released by the municipal finance bureau.

From January to August, local tax revenue totaled 397.86 billion yuan, marking a 5.3% increase from the same period last year. Tax revenue accounted for 87.9% of total income, placing Beijing first nationwide in terms of revenue quality.

Breakdowns by tax category show steady growth across key areas. Value-added tax (VAT) revenue hit 139.38 billion yuan, up 3.3% year on year, driven by expansion in internet wholesale and new energy vehicle sectors. Corporate income tax revenue surged 13.6% to 124.66 billion yuan, supported by improved profitability in major information technology firms. Personal income tax rose 7.2% to 54.56 billion yuan, reflecting increased capital market activity and dividend payouts from listed companies.

On the expenditure side, the city continued to strengthen fiscal resource allocation and budget coordination, ensuring funding for key projects and essential public services. Expenditures in the general public budget totaled 545.66 billion yuan, a year-on-year increase of 1.7%.