Fiscal revenue up by 20.5% on 2009 figure
By Wang Yanlin |
June 12, 2010, Saturday
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Print Edition
Print Edition
CHINA'S fiscal revenue increased 20.5 percent from a year earlier to 791.7 billion yuan (US$115.9 billion) in May, bolstered by China's rapidly expanding economy and a low comparative base, the Ministry of Finance said yesterday.
But the year-on-year growth was moderating from the gains of 34.3 percent in April and 36.8 percent in March, and the ministry said it expected a further slowdown because of the fading effect of a low comparative base.
The national fiscal expenditure rose 25.6 percent from a year earlier in May to 578.7 billion yuan.
Government spending to improve education and social security increased 16.2 percent and 18.8 percent to 52.1 billion yuan and 51.7 billion yuan, respectively, in May.
The gross domestic product in China advanced 11.9 percent in the first quarter of this year, the fastest pace in more than two years.
But the year-on-year growth was moderating from the gains of 34.3 percent in April and 36.8 percent in March, and the ministry said it expected a further slowdown because of the fading effect of a low comparative base.
The national fiscal expenditure rose 25.6 percent from a year earlier in May to 578.7 billion yuan.
Government spending to improve education and social security increased 16.2 percent and 18.8 percent to 52.1 billion yuan and 51.7 billion yuan, respectively, in May.
The gross domestic product in China advanced 11.9 percent in the first quarter of this year, the fastest pace in more than two years.
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