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Increase in fiscal revenue moderates
Print Edition
China posted a slight easing in the growth of fiscal revenue in November but the central government income is likely to meet its annual expansion target on a recovering economy, the Ministry of Finance said yesterday.
The country’s fiscal revenue, comprising income from the central and local governments, rose 15.9 percent from a year earlier to 912.5 billion yuan (US$149.8 billion) last month, the ministry said. The momentum slowed from a 16.2 percent gain in October, the first moderation in four months.
The central government’s fiscal revenue rose 16.7 percent year on year to 428.5 billion yuan in November after gaining 16.9 percent in October, the ministry said.
Local governments’ revenue added 15.3 percent year on year to 484 billion yuan last month, slowing from October’s rise of 15.5 percent.
In the first 11 months of this year, the central government income rose 6.5 percent to 5.7 trillion yuan, missing the official annual goal of 7 percent as tax receipts on imports fell, the ministry said.
However, it is hopeful to “meet the annual target for the central government revenue this year on stable economic growth.”
For the January-November period, China’s fiscal revenue increased 9.9 percent to 12 trillion yuan, and spending climbed 9.3 percent to 11.5 trillion yuan.
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