China's fiscal income rises 12%
Source: Xinhua |
October 16, 2010, Saturday
|
Print Edition
Print Edition
CHINA'S fiscal revenue stood at 628.72 billion yuan (US$94.66 billion) in September, up 12.1 percent from a year earlier, the Ministry of Finance announced yesterday.
For the first nine months of this year, fiscal revenues climbed 22.4 percent from the same period last year to 6.3 trillion yuan, the ministry said on its website.
From January to September, central fiscal revenues rose 20.7 percent from a year ago to 3.32 trillion yuan, while local governments collected 2.98 trillion yuan, up an annual 24.2 percent, it said.
Meanwhile, national fiscal spending was up 28.8 percent year on year to 846.9 billion yuan in September. For the first nine months, nationwide expenditures totaled 5.45 trillion yuan, an annual increase of 20.6 percent, according to the statement.
The ministry attributed the revenue growth in the first nine months to China's relatively rapid economic recovery.
China has seen a slowdown in fiscal revenue increase on a quarterly basis as the annual growth of income for the third quarter of this year was 12.2 percent, versus 22.7 percent for the second quarter and 34 percent for the first, it said.
For the first nine months of this year, fiscal revenues climbed 22.4 percent from the same period last year to 6.3 trillion yuan, the ministry said on its website.
From January to September, central fiscal revenues rose 20.7 percent from a year ago to 3.32 trillion yuan, while local governments collected 2.98 trillion yuan, up an annual 24.2 percent, it said.
Meanwhile, national fiscal spending was up 28.8 percent year on year to 846.9 billion yuan in September. For the first nine months, nationwide expenditures totaled 5.45 trillion yuan, an annual increase of 20.6 percent, according to the statement.
The ministry attributed the revenue growth in the first nine months to China's relatively rapid economic recovery.
China has seen a slowdown in fiscal revenue increase on a quarterly basis as the annual growth of income for the third quarter of this year was 12.2 percent, versus 22.7 percent for the second quarter and 34 percent for the first, it said.
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