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今年上半年，中国个人所得税收入保持较快增长，但税务部门介绍其中相当一部分增长来自补税和滞纳金，显示加强税收征管成为地方政府的重要收入来源。
From November 2024 to 2026, China cumulatively replaced 5 trillion yuan of local government debt. However, the statutory debt balance increased by 10.7 trillion yuan, indicating that the local government debt problem remains severe.
On September 11, the Central Commission for Discipline Inspection and the National Supervisory Commission together with the Ministry of Finance jointly reported six cases of local government hidden debt, naming Anhui’s Jieshou, Jiangxi’s Jiujiang and Ningxia’s Yinchuan for falsifying, misappropriating or using new loans to repay old ones, with “debt‑conversion fraud” amounts totaling 2.94 billion yuan, and also mentioned the issue that during Wu Shenghua’s tenure as former party secretary of Bijie, Guizhou, debt increased rather than decreased.
In the first quarter of 2026, only 3 non-standard default events occurred among local government financing vehicles (LGFVs) nationwide, a significant drop compared to the same period in previous years. Analysis suggests this may be related to local governments defaulting on debts or the central bank increasing monetary financing of fiscal deficits.
The General Office of the State Council issued 50 articles of the Overall Plan for Chinese Football Reform and Development, proposing a combination of the whole-nation system and market mechanisms, and incorporating football development into local government performance evaluations.
Since 2015, the Chinese government has begun providing large-scale subsidies for the electric vehicle industry, with cumulative direct and indirect subsidies reaching 3 trillion yuan. This policy drove the rapid development of China's electric vehicle industry, but also laid the groundwork for subsequent overcapacity.