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On September 18th, the Ministry of Finance released its fiscal revenue and expenditure figures for January-August 2026. From January to August, national government fund budget expenditure totaled 5,194.8 billion yuan, a year-on-year decrease of 17%. Breaking it down by central and local governments, central government fund budget expenditure was 317.5 billion yuan, a year-on-year decrease of 58.3%; local government fund budget expenditure was 4,877.3 billion yuan, a year-on-year decrease of 11.3%, of which expenditure related to revenue from the transfer of state-owned land use rights was 2,178.6 billion yuan, a year-on-year decrease of 18.5%.The onshore yuan closed at 6.6973 against the US dollar at 16:30 on September 18, up 112 points from the previous trading day.On September 18th, the Ministry of Finance released its fiscal revenue and expenditure figures for January-August 2026. From January to August, national government fund budget revenue totaled 2,141.9 billion yuan, a year-on-year decrease of 19%. Breaking it down by central and local governments, central government fund budget revenue was 329.2 billion yuan, a year-on-year increase of 12.2%; local government fund budget revenue was 1,812.7 billion yuan, a year-on-year decrease of 22.9%, of which revenue from the transfer of state-owned land use rights was 1,375.3 billion yuan, a year-on-year decrease of 28.6%.On September 18, the Ministry of Finance released its fiscal revenue and expenditure figures for January-August 2026. From January to August, national general public budget expenditure totaled 18,145.1 billion yuan, a year-on-year increase of 1.2%. Breaking it down by central and local governments, central government general public budget expenditure was 2,817.7 billion yuan, a year-on-year increase of 6%; local government general public budget expenditure was 15,327.4 billion yuan, a year-on-year increase of 0.3%.Royal Bank of Canada: It expects the Bank of England to raise interest rates by 25 basis points in November 2026.

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