China posts 4.7% rise in fiscal revenue in first half of 2026 as land-sale receipts plunge
China's finance ministry reported a 4.7% year-on-year increase in fiscal revenue for January-June 2026, driven by tax receipts, as fiscal spending rose modestly. At the same time, revenue from government land sales fell sharply, underscoring ongoing strain on local government finances amid a sluggish consumption backdrop.