China sees slower rise in fiscal revenue
Print Edition
China’s fiscal revenue rose slower last year as the economy and trade improved in the second half, the Ministry of Finance said yesterday.
The revenue, comprising central and local government incomes, climbed 10.1 percent year on year in 2013 to 12.91 trillion yuan (US$2.11 trillion), the ministry said in a statement. The pace slowed from the 12.8 percent gain reported in 2012.
Of the total fiscal revenue, tax income rose 9.8 percent from a year earlier to 11.05 trillion yuan, slowing 2.3 percentage points from 2012.
The central government fiscal revenue rose 7.1 percent from 2012 to 6 trillion yuan last year while that of local government added 12.9 percent.
Real estate taxes helped the local government revenue to rise in 2013 while the central government revenue recovered in the second half of 2013 from a ‘‘very difficult’’ situation in the first half of last year, the ministry said.
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