China's fiscal revenue up 12.8 pct in first 11 months

2021-12-17 20:43:38Xinhua Editor : Xue Lingqiao ECNS App Download

China's fiscal revenue registered a year-on-year increase of 12.8 percent in the first 11 months of the year, official data showed Friday.

The country's fiscal revenue amounted to 19.13 trillion yuan (about 3 trillion U.S. dollars) during the period, according to data from the Ministry of Finance.

Tax revenue came in at 16.45 trillion yuan in the January-November period, up 14 percent year on year.

Revenue from value-added tax, the largest source of fiscal revenue in the country, rose 13.4 percent from a year ago, while that of individual income tax amounted to 1.26 trillion yuan in the 11 months, an increase of 20.3 percent.

Stamp tax revenue jumped 35.4 percent year on year to 393.5 billion yuan. Specifically, stock-trading stamp tax revenue logged a yearly rise of 43.3 percent.

The central government and local governments collected 8.84 trillion yuan and 10.29 trillion yuan in fiscal revenue, respectively, rising 13.1 percent and 12.6 percent.

Friday's data also showed that China's fiscal expenditure went up 2.9 percent year on year to 21.39 trillion yuan.

Fiscal spending on education rose 5.1 percent from a year ago, while spending on science and technology grew 5.9 percent, and social security and employment 4.9 percent, said the ministry. 


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