Ep 38 - Back in black: Beijing’s efforts to turn around falling tax revenue
Update: 2025-09-14
Description
China’s GDP growth has been unexpectedly strong this year. But paradoxically, tax revenue has been contracting.
That’s not supposed to happen:
- Tax revenue typically falls during a recession, but not when the economy is expanding by more than 5% annually.
In this podcast, Trivium Co-founder Andrew Polk and Dinny McMahon, Trivium’s Head of Markets Research, discuss the reasons behind China’s falling tax revenue, and why it matters – both in the short term and to Beijing’s longer-term economic aspirations.
- They then get into what Beijing is doing about it, and whether those efforts are likely to meaningfully boost badly needed tax receipts.
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