Ministry of Finance releases fiscal data for the first three quarters: September land sale revenue down 23.2%, individual income tax up 10.5%

Date2026.10.23

LocationChina

Fact statusReported

Importance III ●●●●●

Verification Reported · 2 Sources

On October 23, the Ministry of Finance released fiscal revenue and expenditure data for the first three quarters. In September, national land transfer revenue was 233.4 billion yuan, down 23.2% year on year; individual income tax revenue was 138.4 billion yuan, up 10.5% year on year. In the first three quarters, land transfer revenue decreased by 621.5 billion yuan year on year.

Evidence EVIDENCE

Sources 2 · Archived 0

SourceTypeReliabilityLink

李老师不是你老师

2026-10-26 09:01 · 10月23日财政部公布前三季度财政数据：9月卖地收入同比大跌23.2%，个税收入却增长10.5%，土地收入下滑成财政减收主要拖累。

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Original

李老师不是你老师

2026-10-26 23:04 · 彭博社报道，中国9月广义财政支出同比下降3.7%，连续第七个月萎缩，前九个月支出超收入逾7.57万亿元，财政紧缩持续拖累内需。

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Context CONTEXT

Cause

Original event China's Land Sale Revenue in First Five Months Down Nearly 30% Year-on-Year

2026.09 ·Reported ·Importance IV ·China

Original event National revenue from the transfer of state-owned land use rights fell by 30% year-on-year

2026 ·Official claim ·Importance IV ·China

Original event China's land grant revenue fell by 31% year-on-year from January to July 2026

08.21 ·Reported ·Importance III ·China

Original event Ministry of Finance Releases National General Public Budget Revenue for January–August

09.18 ·Official claim ·Importance III ·China

Original event Ministry of Finance: State-Owned Land Transfer Revenue from January to July 2026 Down 30.8% Year-on-Year

08.21 ·Official claim ·Importance IV ·China

This event Ministry of Finance releases fiscal data for the first three quarters: September land sale revenue down 23.2%, individual income tax up 10.5% 2026.10.23 · Reported

Effect Not recorded yet

Coverage of this event COVERAGE

Sayings · 2026-10-26 23:01 Bloomberg reports that China's broad fiscal spending fell 3.7% year-on-year in September, contracting for the seventh straight month, with spending exceeding revenue by more than 7.57 trillion yuan in the first nine months, as fiscal austerity continues to drag on domestic demand.

Sayings · 2026-10-26 09:00 On October 23, the Ministry of Finance released fiscal data for the first three quarters: land sale revenue in September plunged 23.2% year-on-year, while individual income tax revenue rose 10.5%, with the decline in land revenue becoming the main drag on fiscal revenue.

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