Slow fiscal income rise
Source: Xinhua |
March 7, 2013, Thursday
|
Print Edition
Print Edition
CHINA'S fiscal revenue grew slowly in the first two months of this year, hurt by the economic downshift and tax cuts, the Ministry of Finance said yesterday.
The fiscal revenue rose 7.2 percent year on year to 2.24 trillion yuan (US$357 billion), slower than the growth rate of 13.1 percent in the same period a year earlier.
The central government collected 1.08 trillion yuan in fiscal revenue in the January-February period, up 1.6 percent, while local governments saw fiscal revenues grow 12.9 percent to 1.16 trillion yuan.
For the central government, slower growth of revenue was mainly due to a weakening economy, structural tax cuts and slowing imports. Local governments took in more taxes from rising property deals, the ministry said.
The fiscal revenue rose 7.2 percent year on year to 2.24 trillion yuan (US$357 billion), slower than the growth rate of 13.1 percent in the same period a year earlier.
The central government collected 1.08 trillion yuan in fiscal revenue in the January-February period, up 1.6 percent, while local governments saw fiscal revenues grow 12.9 percent to 1.16 trillion yuan.
For the central government, slower growth of revenue was mainly due to a weakening economy, structural tax cuts and slowing imports. Local governments took in more taxes from rising property deals, the ministry said.
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