OPINION_ China’s Provinces Show Evidence of Financial Pressure and the Economy’s Imbalances ( Milton Ezrati - THE EPOCH TIMES )

THE EPOCH TIMES

China’s Provinces Show Evidence of Financial Pressure and the Economy’s Imbalances

A new Ministry of Finance report shows how China’s provinces have had to turn increasingly to Beijing for help with widening budget gaps.

People walk next to a screen with a stocks indicator in the Jing'an district in Shanghai, China, on April 7, 2025. Hector Retamal/AFP via Getty Images

Milton Ezrati
9/5/2026|Updated: 9/5/2026

Commentary

Some 28 provinces and separate jurisdictions increasingly have had to turn to Beijing for help closing budget gaps, according to China’s Ministry of Finance.

It is not unusual for Beijing to have to chip in. It gets the lion’s share of the country’s tax revenues. But the growing need to turn to Beijing nonetheless points to the economy’s imbalances and other problems.

Some transfers from Beijing have occurred since the country’s tax-sharing reforms were implemented in the 1990s. Beijing gets all income tax revenues from both individuals and companies, all securities trading levies, and all customs duties.

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READ MORE: https://www.theepochtimes.com/opinion/chinas-provinces-show-evidence-of-financial-pressure-and-the-economys-imbalances-6082910?ea_src=frontpage&ea_med=section-1

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