新闻来源：www.bloomberg.com
原文地址：China Budget Spending Slide Deepens in Worrying Sign for Economy
新闻日期：2024-09-20
中国总预算支出下滑加剧，来自地产销售收入的一大降幅为经济带来了警示。
根据财政部周五发布的数据，2023年1至8月期间，国民预算总支出约为2.22万亿元（约合3150亿美元），同比下降2.9%。与7月份相比，该数字进一步恶化。
本月，地方政府从土地出让中仅获得245.5亿元收入，同比下降41.8%，创下7月份的最低纪录。这一数据表明财政政策仍然是经济的一大拖累。该经济正受到私营信心不足、房地产市场疲软以及通货紧缩风险加剧的影响。
8月份，消费、投资和生产均超出预期降温，这增加了中国难以实现年增长目标5%的悲观情绪。政府已敦促地方官员加速发行和使用特别债券，以用于基础设施建设的资金支持。
这笔资金需要约两个月时间才能被投入项目中，以帮助稳定地方政府支出。总预算和政府账户下的收入同比下降6%，降至17.46万亿元。该期间内的赤字增幅为4.7万亿元。
原文摘要：
China’s broad budget expenditure shrank at a faster clip amid an unprecedented drop in income earned by local governments from land sales, an alarming sign for an economy desperately in need of fiscal support.The combined spending in the general public budget and the government fund account was about 22.21 trillion yuan ($3.15 trillion) in the first eight months of the year, down 2.9% from the same point in 2023, according to Bloomberg calculations based on released by the Ministry of Finance on Friday. It deteriorated further from a decrease of in the January-July period.A plunge in revenue from land sales has been a particular drain on budgets. Local governments earned just 245.5 billion yuan from them last month, an annual drop of 41.8% that renewed a record decline booked in July.The latest budget snapshot reveals fiscal policy is still a drag on the economy that’s been plagued by weak private confidence and held back by a property slump while deflation risks grow worse. Consumption, investment and production all cooled more than economists had expected in August, adding to pessimism that the country will struggle to meet Beijing’s annual growth target of around 5%. The government has urged local officials to accelerate the issuance and use of special bonds, which are primarily intended to fund infrastructure spending. Sales of the debt picked up in August to a more-than-two-year high, after staying slow earlier in the year.It may take a couple of months before funds raised from the accelerated bond issuance get invested in projects to help stem a drop in local government spending.Total revenue under the general public budget and the government fund account fell 6% on year to 17.46 trillion yuan in the period. That translated into an augmented deficit — a broad measure of the fiscal gap — of 4.7 trillion yuan.
