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China's fiscal revenues increase 13.7% to US$165b in October
Source: Xinhua |
November 15, 2012, Thursday
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Print Edition
CHINA'S fiscal revenues grew 13.7 percent year on year to 1.04 trillion yuan (US$165.1 billion) in October, the Ministry of Finance said yesterday.
The country's central fiscal revenues rose 8.9 percent year on year to 511.9 billion yuan last month, according to the ministry. In September, the country's fiscal revenues grew 11.9 percent year on year while the central fiscal revenues dropped 2.4 percent. The ministry attributed the higher growth rates last month to more tax revenues amid a stabilizing economic growth.
The growth of industrial added-value output accelerated to 9.6 percent year on year in October, from 9.2 percent in September and 8.6 percent in August. Retail sales of consumer goods rose 14.5 percent from a year ago in October, compared with 14.1 percent in September and 13.2 percent in August.
Customs data released on Saturday showed China's exports in October posted the strongest monthly growth since May while imports remained weak.
During the first 10 months, the country's fiscal revenues grew by 11.2 percent from a year earlier to 10.1 trillion yuan. However, the growth rate fell 16.9 percentage points compared with the same period of last year, the ministry said.
From January to October, tax revenues nationwide rose 9 percent on an annual basis to 8.7 trillion yuan. The growth rate shed 17.6 percentage points from a year earlier, according to the ministry.
The country's central fiscal revenues rose 8.9 percent year on year to 511.9 billion yuan last month, according to the ministry. In September, the country's fiscal revenues grew 11.9 percent year on year while the central fiscal revenues dropped 2.4 percent. The ministry attributed the higher growth rates last month to more tax revenues amid a stabilizing economic growth.
The growth of industrial added-value output accelerated to 9.6 percent year on year in October, from 9.2 percent in September and 8.6 percent in August. Retail sales of consumer goods rose 14.5 percent from a year ago in October, compared with 14.1 percent in September and 13.2 percent in August.
Customs data released on Saturday showed China's exports in October posted the strongest monthly growth since May while imports remained weak.
During the first 10 months, the country's fiscal revenues grew by 11.2 percent from a year earlier to 10.1 trillion yuan. However, the growth rate fell 16.9 percentage points compared with the same period of last year, the ministry said.
From January to October, tax revenues nationwide rose 9 percent on an annual basis to 8.7 trillion yuan. The growth rate shed 17.6 percentage points from a year earlier, according to the ministry.
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