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2008 Fiscal Revenue Up To US$900b

CHINESE Finance Minister Xie Xuren yesterday said the government's fiscal revenue reached about 6.13 trillion yuan (US$900 billion) last year, 1 trillion yuan or 19.5 percent more than 2007.

Xie revealed the figure in a report on last year's fiscal situation to the ninth session of the Standing Committee of the 11th National People's Congress.

He said the outstanding national debt reached 5.3 trillion at the end of last year, which was within the 5.5-trillion limit in the annual budget.

Fiscal revenues in the first five months this year reached 2.7 trillion yuan, down 6.7 percent from a year ago, Xie said. In the first five months, fiscal expenditure nationwide amounted to almost 2.25 trillion yuan, up 27.8 percent on last year, 30.7 percent of the budgeted figure.


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