China sees 5.8% gain in fiscal revenue
Print Edition
CHINA’S fiscal revenue rose 5.8 percent year on year to 1.07 trillion yuan (US$173 billion) in March, the Ministry of Finance said yesterday.
The central government’s fiscal revenue topped 389.5 billion yuan last month, up 3.2 percent from the same month a year ago. Local governments achieved a combined 679.6 billion yuan in revenue in March, up 7.4 percent from the same month in 2014, the ministry said on its website.
The March data took the country’s first-quarter fiscal revenue to 3.64 trillion yuan, up 3.9 percent from the same quarter of last year.
The ministry attributed the weak growth in the central government’s fiscal revenue to a drop in value-added tax receipts, as well as lower taxes on imports and petroleum revenue. Meanwhile, the local governments were beset by a drop in property tax income.
The country’s fiscal expenditure rose 4.4 percent from a year earlier to 1.4 trillion yuan in March.
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