Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

China's fiscal revenue up 3.8 pct in January-October period

November 20, 2019


Abstract : China's fiscal revenue increased 3.8 percent year on year to around 16.77 trillion yuan (about 2.39 trillion U.S. dollars) in the first 10 months of 2019, data showed Tuesday.

BEIJING, Nov. 19 (Xinhua) -- China's fiscal revenue increased 3.8 percent year on year to around 16.77 trillion yuan (about 2.39 trillion U.S. dollars) in the first 10 months of 2019, data showed Tuesday.

The central government collected about 8.07 trillion yuan in revenue during the period, up 4.4 percent year on year, while local governments saw revenue up 3.3 percent to about 8.7 trillion yuan, according to data given by the Ministry of Finance (MOF).

Specifically, revenue from domestic value-added tax in the period increased 3.2 percent from one year earlier to about 5.43 trillion yuan, while that from domestic consumption tax surged 18.7 percent to 1.21 trillion yuan.

Meanwhile, revenue from individual income tax decreased 28.6 percent year on year to 877.6 billion yuan in the period. Revenue from value-added tax and consumption tax on imported goods dropped 9.2 percent to 1.33 trillion yuan, while that from tariffs declined 3.6 percent, according to the ministry.

China's fiscal spending expanded 8.7 percent year on year to around 19.06 trillion yuan during the January-October period, the MOF data showed.

The central government spent a total of 2.76 trillion yuan in the first 10 months, up 9 percent from the same period last year, while local governments' spending grew 8.7 percent year on year to 16.3 trillion yuan.

Expenditure on energy conservation and environmental protection boasted the fastest growth in the period, up 15.2 percent year on year, the ministry said.

China will maintain a proactive fiscal policy stance in 2019, with a higher deficit-to-GDP ratio to leave policy space to address potential risks.


Scan the QR code and push it to your mobile phone

Keyword: China-fiscal-revenue

Reading:

China greenlights two IPOs on sci-tech innovation board

Chinese top political advisor visits Laos to promote bilateral cooperation, boost ties

Expressway under CPEC inaugurated in NW Pakistan

China key contributor to transport infrastructure development in Cambodia: Cambodian minister

4th Salone del Mobile.Milano Shanghai showcases Italian design

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial