Search
Close this search box.

China’s Fiscal Revenue Increases Slightly by 0.3 Percent in First Eight Months

Beijing: China's fiscal revenue edged up 0.3 percent year on year to 14.82 trillion yuan (about 2.09 trillion US dollars) in the first eight months of this year, according to data released by the Ministry of Finance on Wednesday.

According to Qatar News Agency, the central government collected about 6.43 trillion yuan in fiscal revenue during the period, representing a decline of 1.7 percent year on year. In contrast, local governments collected 8.39 trillion yuan, reflecting an increase of 1.8 percent year on year.

In terms of tax revenue, China noted a slight rise to 12.11 trillion yuan, edging up 0.02 percent year on year. Non-tax revenue saw a growth of 1.5 percent, reaching 2.71 trillion yuan during the same period.

China's fiscal expenditure expanded by 3.1 percent year on year, totaling 17.93 trillion yuan in the first eight months. The central government's fiscal expenditure rose by 8 percent year on year, while local government expenditure increased by 2.3 percent.

Education spending amounted to approximately 2.71 trillion yuan, marking a rise of 5.6 percent year on year. Expenditure on science and technology reached 587.4 billion yuan, with a 3.1 percent year-on-year increase.

Spending on social security and employment was recorded at 3.07 trillion yuan, up 10 percent year on year.