Photo taken on Oct. 3, 2022 shows the view of skyscrapers of the Central Business District (CBD) at dusk in Beijing, capital of China. (Xinhua/Wang Jianhua)
BEIJING, April 19 (Xinhua) -- China's fiscal revenue increased 0.5 percent year on year in the first quarter of 2023, official data showed on Tuesday.
The country's fiscal revenue amounted to more than 6.23 trillion yuan (about 905 billion U.S. dollars) during the period, according to the Ministry of Finance.
It is expected to continue its growth momentum in the future as the country's overall economic recovery will provide support, the ministry said.
China's gross domestic product grew 4.5 percent year on year in the first quarter to near 28.5 trillion yuan.
The central government collected approximately 2.76 trillion yuan in fiscal revenue, down 4.7 percent year on year, while local governments collected approximately 3.47 trillion yuan, up 5 percent from a year earlier.
Tax revenue came in at about 5.17 trillion yuan in the January-March period, down 1.4 percent year on year.
Fiscal spending rose 6.8 percent year on year to hit 6.79 trillion yuan during the period, according to the ministry.
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